India Post Payment Bank Customer-base crosses 5 Crore

India Post Payment Bank, which was established under the Department of Posts, Ministry of Communication on September 1, 2018 has crossed 5 Crore customer base within 3 years of its operations.

India Post Payment Bank

• It was established as a Digital-First Bank built on the foundation of wide physical distribution network of India Post with the vision to build the most accessible, affordable and trusted bank for the common man in India. It is one of the biggest initiatives of Financial Inclusion in India.

Important Facts

• Around 48% are women account holders, while 52% are male, bringing a large population of women customers under the banking network.
• About 98% of accounts of women were opened at the doorsteps and over 68% of women were availing DBT benefits.
• Over 41% of account holders were in the age group of 18 to 35 years.