Under which ministry is India Post Payments Bank set up?
- A.Ministry of Finance
- B.Ministry of Communications
- C.Ministry of Electronics and Information Technology
- D.Ministry of Corporate Affairs
Correct answer
Explanation
The correct answer is the Ministry of Communications. India Post Payments Bank has been established under the Department of Posts, which sits in that ministry, and the entire equity of the bank is owned by the Government of India. This is a point aspirants often get wrong, because a bank feels as though it should belong to the Ministry of Finance, and option A is placed there for that reason. The postal link is the whole design of the institution: its reach rests on about 1,65,000 post offices, of which roughly 1,40,000 are in rural areas, and around 3,00,000 postal employees, so the doorstep model works through postal staff rather than branches. Its services are built on India Stack, delivered through a smartphone linked to the core banking system with a biometric device, and offered in 13 languages across 5.57 lakh villages and towns.
Read the full article: IPPB Marks 9th Foundation Day, Launches DakPay Sound Box
Practice Questions
Which Foundation Day did India Post Payments Bank celebrate on 1 September 2026?
- A.7th
- B.8th
- C.9th
- D.10th
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The arithmetic is easy to hold if the launch date is remembered: India Post Payments Bank was launched on 1 September 2018, so the same date in 2026 completes nine years of working.
Read the full explanation →Which of these was launched by IPPB on its 9th Foundation Day for merchants?
- A.DakPay Sound Box
- B.Digital Mutual Fund Platform
- C.Surakshit Savings Account
- D.Digital Insurance Technology Platform
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The release describes it as a launch for merchants, designed to simplify and strengthen the acceptance of everyday digital payments at their end.
Read the full explanation →What was IPPB's customer base as on 31 March 2026?
- A.6.5 crore
- B.9.47 crore
- C.12.06 crore
- D.13.25 crore
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The release gives this as the pan-India customer base as on 31 March 2026, and adds two shares worth remembering: 77 per cent of these customers are in rural areas and 49 per cent are women.
Read the full explanation →On which stock exchanges is the equity share capital of the acquirer listed?
- A.Only the National Stock Exchange of India
- B.Only the Bombay Stock Exchange
- C.The Bombay Stock Exchange and the National Stock Exchange of India
- D.The Calcutta Stock Exchange and the Bombay Stock Exchange
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Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the central bank to carry on banking business, with its equity share capital listed on both these exchanges.
Read the full explanation →Which business of Deutsche Bank in India is being acquired by Kotak Mahindra Bank?
- A.Corporate and investment banking
- B.Retail, private banking and wealth management
- C.Custody and fund accounting
- D.Treasury and foreign exchange dealing room
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The target business is precisely the retail banking and private banking segment together with the wealth management arm that the seller runs through its branches in India, and it is moving as a going concern on a slump sale basis.
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