An Empirical Study of IPPB with Reference to its Vision and Mission Statement

On 19 August 2015 RBI has issued the license to India Post to run a payments bank. On 17 August 2016, IPPB was registered as a public limited government company for setting up a payments bank. India Post Payments Bank IPPB was setup under the Department of Posts, Ministry of Communication with 100 equity owned by Government of India. On 17th August 2016 it has been registered as a public limited government company. There are 155,015 post offices and 400,000 postal service workers who are going to provide house to house banking services. The Pilot project was launched in Ranchi Jharkhand and Raipur Chhattisgarh on 30 January 2017. IPPB will expand in phases across India covering all post offices, through a network of IPPB branches controlling offices, working on a hub and spoke model. The first phase nationwide inauguration happened on September 1, 2018 with 650 branches and 3250 post offices as access points. The IPPB has the vision of 'Building the most accessible, affordable and trusted bank for the common man.' and the mission is 'Spearheading financial inclusion by removing barriers and reducing costs for accessing banking services.' This paper is intended to analyze the policies of IPPB to check its alignment with the abovementioned mission and vision of the bank. Mr. Bharat Nagargoje | Mrs. Saba A.S. "An Empirical Study of IPPB with Reference to its Vision and Mission Statement" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18714.pdf