Letters to financial inclusion, India's postal system delivers
India, Sept. 4 -- The Indian postal system is proving that growth is rooted in evolution. The department of posts, with its network of over 160,000 post offices, is rewriting its growth story. While its journey to become the world's largest logistics network forms its prologue, its epilogue is about the delivery of tools of financial independence, economic empowerment, and opportunity across India. Yesterday's postman now brings the promise of financial access and dignity to every doorstep in the country.
Under the leadership of Prime Minister Narendra Modi to empower rural India, the India Post Payments Bank (IPPB) has quietly become a national pioneer by ensuring the digitalisation of all its rural accounts. By integrating technology, expanding partnerships, and diversifying services, the IPPB is transforming post offices into comprehensive financial hubs, proving that even the oldest institutions can evolve in step with a rapidly-changing world.
Eight years ago, the IPPB was established with a commitment to ensure that no Indian, irrespective of geography, gender, or circumstance, is excluded from the formal economy. Beyond opening accounts, it was about unlocking opportunity and empowerment. Today, IPPB serves 120 million customers, nearly 80% of whom are from rural India - 59% of these accounts belong to women, marking a quiet revolution in gender empowerment through financial inclusion. The pace of this transformation is equally striking: Every two seconds, a new person joins this journey. This is a measurable transformation, where banking is systematically democratised and woven into the socioeconomic fabric of the country.
The IPPB's performance is extraordinary - deposits are now nearing Rs.20,000 crore and revenue alone has grown to Rs.2,200 crore, with profits amounting to Rs.134 crore. Digital transactions worth Rs.13 lakh crore have been executed, contributing to India's status as a global leader in real-time digital payments. The IPPB is also facilitating the largest Direct Benefit Transfer (DBT) flow in the country, ensuring subsidies, wages, and pensions reach citizens instantly and transparently. By integrating rural India into the digital economy, it has become an engine of national economic empowerment. Notably, it is in the Northeastern Region (NER) where PM Modi's Act East vision comes alive through financial inclusion. Since its inception, IPPB has opened more than 5.1 million accounts in the NER, served by over 8,500 postmen and grameen dak sevaks (GDSs) who walk miles through forests and across rivers to reach villages where a bank branch was once a day's journey away. In Assam and Meghalaya, women-led self-help groups are accepting QR payments, transforming their small ventures into growing enterprises. In Arunachal Pradesh, subsidies and pensions flow directly to households, with transparency and dignity. In every such act, the IPPB is weaving the NER firmly into the wider financial mainstream of India, fulfilling a promise that no Indian is too far to be seen, served, and empowered.
The IPPB's innovation is not faceless. Every service is Aadhaar-enabled and paperless, delivered by trusted postmen and women integral to their communities. Along with financial dignity, they also deliver the confidence of knowing that every rupee, every subsidy, and every pension is secure, accountable, and accessible to the consumer. Over one billion doorstep services have been completed, each a small story of empowerment contributing to making the IPPB the largest doorstep banking network in the world. In a way, the IPPB has transformed the role of GDSs into guardians of financial inclusion, making the bank's digital promise tangible and profoundly human.
In the eighth year of the IPPB, it is not the rise of another institution alone that is to be celebrated, but trust, service, and persistence engendered by the erstwhile postal network. It is a story still being written in India's villages, towns, and cities.
This is also Bharat's revolution that is being carried forward in the hands of every postman and postwoman....
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