Business

IPPB unveils Aadhaar-linked service

New Delhi, Sep 9 (IANS) | Publish Date: 9/9/2019 10:56:21 AM IST

India Post Payments Bank (IPPB) has announced launch of the Aadhaar-enabled payment services (AePS) for unbanked and under-banked people and said it has made 1 crore customers within one year of operations.

Speaking at the first IPPB anniversary celebrations on Monday, Union IT and Communications Minister Ravi Shankar Prasad said the bank, which achieved the 1-crore-customer milestone, had been asked to make it to 5 crore customers in the next one year. Referring to the 440 central schemes on-boarded to the direct benefit transfer platform, he said they must also be included to the IPPB platform.
Stating that ‘inclusive’ is the key mantra of the government, he said the Department of Posts should strive for banking the unbanked, funding the unfunded and securing the unsecured.
“Around 34 crore bank accounts have been opened under the PMJDY. Of this, 22 crore belong to the rural people. With the IPPB’s AePS, we now have the ability to provide inter-operable doorstep banking services to account holders of ‘any bank’, including Jan Dhan account holders”, he said.

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