India Post Payments Tender

Over 4.7 crore IPPB customers will now have access to HDFC Banks products and services. HDFC Bank will leverage IPPBs network of 650 branches and over 136000 Banking Access Points to expand its outreach to customers in semi urban and rural locationsNew Delhi December 27 2021 India Post Payments Bank IPPB and HDFC Bank have signed a Memorandum of Understanding MoU for offering various banking products and services to customers of IPPB in semi-urban and rural areas focussing on unbanked and underserved segments. Over 4.7 crore customers of IPPB of whom nearly 90 are residing in rural areas are expected to benefit from this partnership.The strategic alliance will enabe IPPB to provide affordable and diversified offerings including access to finance to its customers through its innovative Doorstep Banking Service. With nearly 200000 postal service providers Postmen and Gramin Dak Sevaks equipped with microATMs and biometric devices IPPB caters to the needs and requirements of various customer segments but is also committed to making digital adoption easier at the last mile by enabling an assisted banking model. With this partnership HDFC Bank aims to further strengthen its financial inclusion drive by leveraging the robust and extensive distribution network of IPPBs 650 branches and over 136000 banking access points across India.Speaking on the MoU Mr. J. Venkatramu Managing Director CEO India Post Payments Bank saidBy bringing banking at the doorsteps of customers IPPB is steadily transforming and reshaping the financial inclusion landscape across the country. Our endeavour is to build a unified platform offering various citizen-centric services including credit at the doorstep by leveraging digital technologies and alternate data sources in collaboration with lending partners. This important partnership with HDFC Bank is a step in that direction of promoting an inclusive digitally-driven and social banking ecosystem.Commenting on the tie-up Ms. Smita Bhagat Country Head GIB CSC e-Commerce Start-ups and Inclusive Banking Initiatives Group HDFC Bank said HDFC Bank has been championing the cause of financial inclusion through several initiatives and this partnership is one more step in that direction. This alliance will allow us to take our best-in-class products and services to millions of IPPB customers in the remotest corners of India.This is a significant tie-up for HDFC Bank also as it will help expand its customer outreach to the last mile.IPPBs product portfolio is wide ranging and includes savings and current account 24x7 instant money transfer Aadhaar enabled Payment System DBT including Mahatma Gandhi National Rural Employment Guarantee Scheme and payment of scholarships bill and utility payments digital life certificate third party products and other such services.