INTERIM REPORT

ON

“SELLING PRODUCTS/ THIRD-PARTY PRODUCTS OF

INDIA POST PAYMENTS BANK AND PROMOTING
DIGITAL BANKING SERVICES.”

SUBMITTED BY:
RAVURI NANDU VARDHAN
22BSPJP01C149
BATCH:2022-2024

INDIA POST PAYMENTS BANK

 INTERIM REPORT
ON

SELLING PRODUCTS/ THIRD-PARTY PRODUCTS OF INDIA

POST PAYMENTS BANK AND PROMOTING DIGITAL
BANKING SERVICES.

BY
RAVURI NANDU VARDHAN – 22BSPJP01C149

INDIA POST PAYMENTS BANK

A report submitted in partial fulfilment

of the requirements of
MBA Program of IBS
Jaipur

SUBMITTED TO:
Faculty Supervisor
Dr. KUNAL VIJAY
Assistant Professor
IBS JAIPUR
 ACKNOWLEDGEMENT

I wish to express my sincere thanks and a deep sense of gratitude to my

Company Guide, Mr. K.V ANUDEEP, Branch Manager of the India Post
Payments Bank, for his consistent encouragement and valuable guidance
pleasantly offered to me throughout the reported work.

I am extremely grateful to my faculty Supervisor Dr Kunal Vijay, Assistant

Professor of the IBS Jaipur, ICFAI University, for extending the facilities of
the school towards our report and for her unstinting support.

I also take this opportunity to thanks Dr Archana Rathore, Associate Dean

of the IBS Jaipur, ICFAI University, and all the faculty of the school for their
support and their wisdom imparted to me throughout the course.

I thank my parents, family, friends and co-workers for bearing with us

throughout our report and for the opportunity they provided us in
undergoing this course in such a prestigious institution.
 ABSTRACT

It’s a development on India post payments bank. India Post Payments Bank (IPPB)
launched by the prime minister of India on pan India Basis on 1st September 2018.
It is initiative from the government to provide accessible and affordable basic
banking services to each and every person across India through India post payments
bank.
The main focus of India post payments bank is for homemakers, senior citizens,
students, rural India, unorganized sectors. The research is for awareness of financial
inclusion of products and services for each and every customer. Conducting camps
at different rural places for importance of products and services and explaining to
everyone.

193 JOURNAL OF THE ASIATIC

SOCIETY OF MUMBAI, ISSN: 0972-
0766, Vol. XCIV, No.6, 2021
INDIA POST PAYMENT
BANK (IPPB) – RECENT
TREND IN
BANKING SERVICES
Dr. N. PRAKASH1, Assistant Professor
Ms. SUGANYA SAMPAT2, Assistant
Professor
Department of Commerce, Faculty of
Science and Humanities,
SRM Institute of Science and
Technology, Ramapuram Campus,
Bharathi Salai, Ramapuram, Chennai -
600 089, India.
ABSTRACT
Payments Bank is a new type of bank
that is promoted with the express
purpose of extending the reach of
banking to
the vast majority of segments of the
population that do not have banking
services. The payment bank promoted by
India Post is expected to use the physical
network of post ofces, as well as
digital platforms such as mobile, Internet
banking, debit cards, point-of-sale
devices, etc. to provide the designated
nancial services at low cost to the
target
population. Payments Bank could
provide last mile connectivity, especially
in those areas that do not have
commercial
bank branches but that has a post
ofce. Its large presence in rural
areas and the condence it enjoys
among large
segments of the population could allow it
to succeed where commercial banks have
failed. This paper makes an attempt
to address the core functions and features
of India’s post-payment banks
193 JOURNAL OF THE ASIATIC
SOCIETY OF MUMBAI, ISSN: 0972-
0766, Vol. XCIV, No.6, 2021
INDIA POST PAYMENT
BANK (IPPB) – RECENT
TREND IN
BANKING SERVICES
Dr. N. PRAKASH1, Assistant Professor
Ms. SUGANYA SAMPAT2, Assistant
Professor
Department of Commerce, Faculty of
Science and Humanities,
SRM Institute of Science and
Technology, Ramapuram Campus,
Bharathi Salai, Ramapuram, Chennai -
600 089, India.
ABSTRACT
Payments Bank is a new type of bank
that is promoted with the express
purpose of extending the reach of
banking to
the vast majority of segments of the
population that do not have banking
services. The payment bank promoted by
India Post is expected to use the physical
network of post ofces, as well as
digital platforms such as mobile, Internet
banking, debit cards, point-of-sale
devices, etc. to provide the designated
nancial services at low cost to the
target
population. Payments Bank could
provide last mile connectivity, especially
in those areas that do not have
commercial
bank branches but that has a post
ofce. Its large presence in rural
areas and the condence it enjoys
among large
segments of the population could allow it
to succeed where commercial banks have
failed. This paper makes an attempt
to address the core functions and features
of India’s post-payment banks
193 JOURNAL OF THE ASIATIC
SOCIETY OF MUMBAI, ISSN: 0972-
0766, Vol. XCIV, No.6, 2021
INDIA POST PAYMENT
BANK (IPPB) – RECENT
TREND IN
BANKING SERVICES
Dr. N. PRAKASH1, Assistant Professor
Ms. SUGANYA SAMPAT2, Assistant
Professor
Department of Commerce, Faculty of
Science and Humanities,
SRM Institute of Science and
Technology, Ramapuram Campus,
Bharathi Salai, Ramapuram, Chennai -
600 089, India.
ABSTRACT
Payments Bank is a new type of bank
that is promoted with the express
purpose of extending the reach of
banking to
the vast majority of segments of the
population that do not have banking
services. The payment bank promoted by
India Post is expected to use the physical
network of post ofces, as well as
digital platforms such as mobile, Internet
banking, debit cards, point-of-sale
devices, etc. to provide the designated
nancial services at low cost to the
target
population. Payments Bank could
provide last mile connectivity, especially
in those areas that do not have
commercial
bank branches but that has a post
ofce. Its large presence in rural
areas and the condence it enjoys
among large
segments of the population could allow it
to succeed where commercial banks have
failed. This paper makes an attempt
to address the core functions and features
of India’s post-payment banks
193 JOURNAL OF THE ASIATIC
SOCIETY OF MUMBAI, ISSN: 0972-
0766, Vol. XCIV, No.6, 2021
INDIA POST PAYMENT
BANK (IPPB) – RECENT
TREND IN
BANKING SERVICES
Dr. N. PRAKASH1, Assistant Professor
Ms. SUGANYA SAMPAT2, Assistant
Professor
Department of Commerce, Faculty of
Science and Humanities,
SRM Institute of Science and
Technology, Ramapuram Campus,
Bharathi Salai, Ramapuram, Chennai -
600 089, India.
ABSTRACT
Payments Bank is a new type of bank
that is promoted with the express
purpose of extending the reach of
banking to
the vast majority of segments of the
population that do not have banking
services. The payment bank promoted by
India Post is expected to use the physical
network of post ofces, as well as
digital platforms such as mobile, Internet
banking, debit cards, point-of-sale
devices, etc. to provide the designated
nancial services at low cost to the
target
population. Payments Bank could
provide last mile connectivity, especially
in those areas that do not have
commercial
bank branches but that has a post
ofce. Its large presence in rural
areas and the condence it enjoys
among large
segments of the population could allow it
to succeed where commercial banks have
failed. This paper makes an attempt
to address the core functions and features
of India’s post-payment banks
Payments Bank is a new type of bank that is promoted with the express purpose of
extending the reach of banking to the vast majority of segments of the population
that do not have banking services.
The payment bank promoted by India Post is expected to use the physical network
of post offices, as well as digital platforms such as mobile, Internet Banking, debit
cards, point-of-sale devices etc, to provide the designated financial services at low
cost to the target population.
Payment’s bank could provide last mile connectivity, especially in those areas that
do not have commercial bank branches but that has a post office. Its large presence
in rural areas and the confidence it enjoys among large segments of the population
could allow it to succeed where commercial banks have failed. This paper makes an
attempt to address the core functions and features of India’s Post-Payments Bank .
 ABOUT COMPANY
At India Post Payments Bank, we believe that a nation can grow when every citizen
has an opportunity to prosper, regardless of their way of life. With simple, diverse
and growth-oriented offerings, IPPB aims to provide every household in India an
access to efficient banking services and enable them to become financially secure
and empowered.
India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry
of Communication with 100% equity owned by Government of India. IPPB was
launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur
(Chhattisgarh), with the objective of being present across India by the FY 2018-
2019. IPPB has expanded its strength across India covering post offices, through a
network one Branch and 649 Banking outlets manned by Business Correspondents,
working on a hub and spoke model.

IPPB OFFERINGS:
At India Post Payments Bank (IPPB), we understand your needs. That is why we
have tailored our banking products and services to be simple and efficient.

- Savings Account
DEPOSITS
- Current Account

- Simple & Secure

MONEY TRANSFER - Instant
- 24x7

- MGNREGA
DIRECT BENEFITS TRANSFERS - Scholarships
- Social welfare benefits and other Government subsidies

- Loans
- Insurance
THIRD PARTY PRODUCTS
- Investments
- Post Office Savings schemes

- Mobile and DTH recharge

BILL & UTILITY PAYMENTS - Electricity, water & gas bills
- Donations & insurance premiums

- Postal products
- Digital Payment of e-commerce delivery (Cod)
ENTERPRISE AND MERCHANT PAYMENTS - Small merchants/kirana stores/unorganized retail
- Offline payments
- Cash Management Services
 INTRODUCTION

Payments bank is similar to traditional banks except it operates on a smaller scale

and does not take on any credit risk. It can perform most banking functions but it
cannot offer loans or issue credit card services. Payment’s bank operates in digital
platforms. Reserve Bank of India conceptualized the concept of payments bank is to
widen the spread of payments and financial services to small businesses low
income, households, migrants labours through financial inclusion. At present six
payments banks are operational.
Airtel payments bank is first to get licence followed by India post payment bank.
India post payments bank launched India on pan India Basis on 1st September 2018
with the vision to build the most accessible and trusted bank for the common man.
The main focus group of India post payments bank is for homemakers, senior
citizens, students, rural India, unorganized sectors. India post payments bank wholly
owned by government of India. India post payments bank will be leveraging the vast
postal network of nearly 1.55 lakh postal offices and 3 lakh postal employees in
every district, town and village of the country for door step banking services.
The main motto of India post payments bank in India is to achieve financial inclusion
successful by providing basic services of banking, remittance and payments to
unbanked areas.

Features of India Post Payment Bank: -

 India Post payments bank (ippb) have two accounts 1) Savings account and 2)
Current accounts.
 Right now, savings account is the one in progress and current account is not
working as of now .
 IPPB interest rate is 2.5% above 1 lakh, up to 1 lakh interest rate is 2.25% .
 It cannot offer lending amount to customers and cannot issue credit card.
 In savings account it has Regular account and Premium account.  IPPB offers
QR codes to customers so they can withdraw money at nearest post offices
without any pin number.
 India Post payments bank will charge fee as a commission.
 Ippb’s main attraction is door step banking where postman or GDS (Gramin
dak services) carryout banking service at doorstep.
 INDIA POST PAYMENTS BANK SERVICES

1. Banking services: India post payment bank provides savings accounts

consisting of basic savings account, regular saving account, digital saving
account.

2. Basic saving account: - As alike the regular savings account the basic saving
account also have the same features except one restriction i.e., in basic saving
account only 4 withdrawals can be made in a month.

3. Regular saving account: - The regular savings account can be opened at bank’s
access point or by using doorstep banking. The accounts can be opened
instant and paperless. This account can be opened with zero balance and no
monthly average balance is required to maintain this account. Regular savings
account provides 2.5% interest to its account holders. The account holders will
also be provided with a QR coded card for use it as like ATM – cum debit card.

4. Digital savings account: - This account is designed to attract young peoples

and tech savvy peoples. This account is opened through a mobile application
which is available in Google Play Store on Android phones. Anyone with the
above age of 18 can open and operate this account by submitting their Aadhar
and Pan card while opening the account. This digital savings account can be
opened and operated at any place and at any time the customers needed. It
provides 2.5% interest rate and maximum limit of 2 lakhs is allowed per day.

5. Domestic Remittance Services: - IPPB will provide an economic and secure

means to transfer funds through its national remittance offer. All IPPB
customers would be eligible to take advantage of a large number of different
modes of domestic shipping subject to the stipulated restrictions: NEFT, IMPS,
AEPS, and UPI.

6. Direct Benefit Transfer (DBT): - The DBT program aims to transfer subsidies
directly to people through their bank accounts which, in turn will reduce leaks,
delays and other similar challenges. Disbursement agency funds are
 automatically credited to beneficiaries’ accounts through NACH / APBS instead
of cash disbursement. IPPB will provide cash from subsidies at the client’s
doors by combining this service with Doorstep Banking.

7. DOOR STEP BANKING: - Post offices are hoping to extend their service as a
bank at your door. Doorstep banking is provided to the customers to avail it
with a nominal fee for the advantage of using banking services and related
services at their doorstep. The services that are currently offered are follows:

 Account Opening
 Cash deposit & withdrawal
 Money Transfer
 Recharge and bill payments
 Balance enquiry
 Aadhar to Aadhar funds transfer
 Third party services (Insurance, Loans and Investment)
The doorstep banking will be carried out by using the QR card and bio-
metric devices carried by the postman. The doorstep banking will charge a
nominal fee for providing the services. For each digital transaction Rs.20
plus GST will be collected from the account as service charge and for cash
transactions Rs.25 will be collected for each transaction.
 PROGRESS OF IPPB TILL NOW

 Apart from these they conducted camps to different village areas were branch
offices work and also not only that merchant QR codes also given to small
shop owners so it will really help them because the money will directly
transfer to them without any charges rather than using phone pay or google
pay, Paytm. Till now two camps conducted by the ippb company.

 Opened 250+ accounts of India Post Payments Bank to the customers.

 20 General and life Insurance

 75 Merchant on Boardings and issued QR-codes

 150+ KYC’s

 Calling end users for activation

 Visiting the local markets and analyse the market and customer needs at their
level and informing them about IPPB premium savings account and Merchant
QR code, Digital Banking facility and insurance schemes.

 Explaining how the app works clearly each and everything to customer and
linking there postal accounts (saving bank) to India post payment bank
account.