India Post Payments Bank
There is only one payments bank, i.e., India Post Payments Bank (IPPB), set up under the Department of Posts. The bank has 650 branches and over 1.63 lakh access points through the post office network.
IPPB is offering a range of services and products such as savings and current accounts, Virtual Debit Card, Domestic Money Transfer services, bill and utility payments, insurance services for IPPB customers, Post Office Savings Account (POSA) linkage with IPPB accounts, online payment for Post Office Savings schemes, Digital Life Certificate (DLC), Aadhaar Enabled Payment System (AePS), mobile number update in Aadhaar for any citizen and Child Enrolment services for any child of 0-5 years old.