GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS
DEPARTMENT OF POSTS
LOK SABHA
STARRED QUESTION NO.400
TO BE ANSWERED ON 29TH MARCH, 2017400. SHRI PASHUPATI NATH SINGH:
SHRI NINONG ERING:
Will the Minister of COMMUNICATIONS be pleased to state:
(a) whether the Government has set up the India Post Payments Bank
(IPPB) as a Public Limited Company under the Department of Posts and if
so, the details and the status thereof along with the benefits
accrued/likely to be accrued therefrom;
(b) the number of IPPB branches opened so far, State/UT-wise along with
the time by which branches of the said bank are likely to be opened in
all the States;
(c) whether IPPB has installed ATMs and issued Debit Cards across the
country and if so, the details thereof including the number of ATMs
installed and Debit Cards issued, State/UT-wise;
(d) whether many firms including global banking institutions like the
World Bank have reportedly expressed interest for being associated with
IPPB and if so, the details thereof and the action taken by the
Government thereon; and
(e) whether IPPB has signed any Memorandum of Understanding with British
lender Barclays regarding banking operations and if so, the details
thereof?
ANSWER
THE MINISTER OF STATE (IC) OF THE MINISTRY OF COMMUNICATIONS &
MINISTER OF STATE IN THE MINISTRY OF RAILWAYS
(SHRI MANOJ SINHA)
(a) to (e) A Statement is laid on the Table of the House
STATEMENT TO BE LAID ON THE TABLE OF THE LOK SABHA IN RESPECT OF PARTS (a) TO
(e) OF LOK SABHA STARRED QUESTION NO.400 FOR 29TH MARCH, 2017 REGARDING
“INDIA POST PAYMENTS BANK ”.
(a) & (b) Yes Madam, Department of Posts (DoP) has set up India Post
Payments Bank (IPPB) as a Public Limited Company on 17/08/2016 under
the Companies Act 2013, to further the financial inclusion objectives of
the Government. IPPB has launched operations in Raipur (Chattisgarh)
and Ranchi (Jharkhand) with 8 access points on 30/01/2017. It is
proposed to set up access points co-located with district level post
offices in up to 650 districts with linkages to all the post offices
throughout the country by September, 2017, subject to feasibility and
fulfillment of regulatory requirements. Thus after complete roll-out,
approximately, 1.55 lakh post offices will become access points for the
IPPB.(c) IPPB has not installed any ATM, as of now. IPPB has issued 1619
Debit Cards of which 832 Debit Cards have been issued in Jharkhand and
787 Debit Cards have been issued in Chattisgarh. However, the Department
of Posts has installed 976 ATMs which are mostly located in the rural
areas of India.
(d) Yes Madam, many companies have approached the Department of Posts
for collaboration with India Post Payments Bank (IPPB) which include
domestic and international financial entities in the field of banking,
insurance, international money transfer, mutual funds etc. Some
preliminary discussions had taken place with International Finance
Corporation (World Bank); no formal proposal to this effect has been
received. While the Department is in various stages of discussions with
them, decision on formal partnerships will be taken after carefully
evaluating the entire value proposition that they propose for the common
man. A list of companies interested in partnering with India Post
Payments Bank is attached at Annexure A.
(e) No Madam, IPPB has not signed any Memorandum of Understanding with Barclays
Annexure A
Annexure A
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List companies keen to partner with India Post Payments Bank.
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1
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YES Bank
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2
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Union Bank
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3
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Punjab National Bank
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4
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IDBI Bank (Industrial Development Bank of India)
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5
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SBI (State Bank of India)
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6
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Axis
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7
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Bank of Baroda
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8
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IDFC Bank (Industrial development finance company)
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9
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Deutshe Bank
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10
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Barclays Bank
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11
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Citibank
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12
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NABARD (National Bank For Agriculture & Rural Development)
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13
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HSBC (Hongkong and Shanghai Banking Corporation)
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14
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MICRO SAVE
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15
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Allahabad Bank
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16
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Indian Overseas Bank
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17
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Dena Bank
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18
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FIA (Financial Inclusion)
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19
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Kotak Mahindra Bank
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20
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United Bank of India
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21
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HDFC Life (Housing Development Finance Corporation)
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22
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Royal Sundaram
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23
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PNB Metlife (Punjab National Bank)
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24
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ICICI Lombard ( Industrial Credit and Investment Corporation of India Bank)
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25
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ICICI Prudential ( Industrial Credit and Investment Corporation of India Bank)
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26
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Bajaj Allianz Life
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