India Post Payments Bank launch today: Postmen to deliver banking services

Postmen with Android phone with a separate biometric reader to capture fingerprints.

Rajesh Singh, a 30-something who has been a postman for five years, is proud of getting 150 people to open bank accounts in his area. He is one of the many khaki-clad in the General Post Office of the national capital who have recently turned banking official for (IPPB).

A postman like him will help open an account with this Saturday, after launching the most ambitious banking operation in the country in recent times.

The bank, in which the Union government owns 100 per cent equity, got its licence in 2016, when the Reserve Bank of India issued 11 licences for payments  Three out of the 11 have returned their licences because of viability concerns.

has built up its organisation and is ready to launch. It has a network of 155,000 and 30,000 postmen, who have undergone training to perform 

Singh claims he was among the first who signed up for the 30-hour training provided by the (NIBF).

He carries a mid-range Android phone with a separate biometric reader to capture fingerprints. He is quick to fire up the micro-ATM app on his phone. The app is still being developed, less than 24 hours before its launch.

“A new version of the app was released this morning. So, I am getting used to it. There’s some issue with the on-boarding process, but most people get their accounts in less than 5 minutes,” he said.