India Post Payments Bank collaborates with Reserve Bank Innovation

The Reserve Bank Innovation Hub (RBIH) and India Post Payments Bank (IPPB) have teamed together to concentrate their efforts on expanding the accessibility of financial solutions to significant portions of society throughout India and providing frictionless financing to a billion Indians.

In the past 30 years, India’s economy has grown significantly. The nation has also experienced the rapid advancement and acceptance of mobile technologies at low data use costs during the past ten years. However, a sizable portion of the populace continues to lack access to crucial financial services and knowledge, as do micro and small companies. One of the essential conditions for the inclusive growth of society is universal access to finance.

India Post Payments Bank

The IPPB and RBIH partnership will look into projects that will influence the general public by:

Utilising the Department of Posts (DoP) and IPPB’s extensive rural reach to bring rural finance to 1 billion Indians.

Through research and innovation, enabling access to sustainable and safe financial services for all societal segments.

Additionally, IPPB must actively participate in and collaborate with RBIH on all important national programmes.

“Customer centricity is at the centre of all we do at RBIH,” stated Shri Rajesh Bansal, CEO of RBIH. India’s robust digital infrastructure presents us with the exceptional chance to include everyone in the nation’s financial system. I am enthusiastic about the opportunities our partnership with IPPB can offer and the impact we can have on India’s inhabitants as a whole!