India Post Payments Bank (IPPB) has achieved the milestone of two crore customers, providing a major impetus to the government's efforts in furthering financial inclusion in unbanked and underbanked areas across the country."The success of IPPB's business model underlines the government's intent in creating an interoperable banking infrastructure for the public good contributing toward changing the financial inclusion landscape in India," Minister for Communications Ravi Shankar Prasad said on Thursday.IPPB was launched by Prime Minister Narendra Modi on September 1, 2018. It reached the landmark of one crore customers in the first year of operations. The next one crore customers have been acquired and onboarded in just five months.On average, IPPB has been opening and maintaining a run rate of 33 lakh accounts per quarter."Since its launch, IPPB has enabled more than 1.36 lakh post offices and 1.9 lakh postmen to provide a complete suite of banking services at the doorstep of ...
