IPPB Marks 9th Foundation Day, Launches DakPay Sound Box

India Post Payments Bank (IPPB) completed nine years on 1 September 2026 and marked the day as IPPB Day 2026. The bank works under the Department of Posts in the Ministry of Communications, and the Government of India holds all of its equity. It opened on 1 September 2018 with the aim of taking banking to people the banking system had not reached, using the post office network instead of new branches.

Three launches on the day

The bank announced the DakPay Sound Box for Merchants, a device meant to make everyday acceptance of digital payments simpler for shopkeepers. It also launched a Digital Insurance Technology Platform, which connects customers to life, health and general insurance products. The third launch was a Digital Mutual Fund Platform for digital investment. Together the three take the bank beyond payments into protection and investment. Shri R. Viswesvaran, Managing Director and Chief Executive Officer, said the anniversary was also a launchpad and that the bank's strength lies in joining technology to the reach and trust of India Post.

Where the bank stands, as on 31 March 2026

Accounts rolled out in the past year

Three account variants were introduced during the year. The SHG Savings Account is built for self help groups and rural micro-entrepreneurs. The Surakshit Savings Account adds cyber insurance of ₹25,000 against phishing, spoofing and SIM jacking. The Sampoorna Savings Account combines the Aarogya wellness benefit with that cyber cover.

The network behind it

The bank rests on a postal network of about 1,65,000 post offices, of which roughly 1,40,000 are rural, and around 3,00,000 postal employees. Its model is built on India Stack and delivers paperless, cashless and presence-less banking at the doorstep through a smartphone linked to the core banking system and a biometric device. Services are offered in 13 languages and reach more than 13 crore customers across 5.57 lakh villages and towns.