VIJAYAWADA: Union Minister of State for Communications and Rural Development, Chandra Sekhar Pemmasani, reviewed the performance of India Post and India Post Payments Bank (IPPB) on Tuesday, with a focus on digital initiatives, customer convenience and strengthening last-mile financial access.
The Minister said that closer coordination between India Post and IPPB is crucial to ensure affordable and reliable services reach citizens, particularly in rural and remote areas. He said trust, financial inclusion and last-mile delivery remain the top priorities.
Officials informed the Minister that IPPB has grown rapidly, serving over 12 crore customers with deposits nearing Rs 20,000 crore. The bank recorded revenues of Rs 2,200 crore and a profit of Rs 134 crore, achieving a compound annual growth rate of 60-70 percent in the last two years. Despite a lean workforce of 1,250 employees, this growth has been possible due to the extensive reach of India Post. To expand credit access, IPPB has partnered with HDFC Bank, Axis Bank, Aditya Birla Capital Finance and Aadhaar Housing Finance to provide home, personal, auto, agricultural, Kisan Credit Card, gold, tractor and commercial vehicle loans. In June 2025 alone, loans worth Rs 7 crore were disbursed, and work is underway to design small-ticket digital credit products for rural entrepreneurs.
Pemmasani appreciated India Post and IPPB’s integration of postal and digital services across 1.64 lakh post offices, enabling bill payments, money transfers, e-KYCs, and digital life certificates for pensioners.
He said these services are transforming financial access for households across India.