Category: IPPB

We are pleased to inform you that IPPB is going to reinstate charges on its Doorstep Banking Service from 1st September, 2021. 

Service Proposition

• INR 20/- (exclusive of GST) will be charged to customer for each door step banking service request
• DSB charges implementation radius: Beyond 1000 meter from access point.
• There will be no distinction between cash / Non-non cash or financial/ Non-financial transactions.  Flat INR 20/- will be charged for all eligible products and services
• No capping on number of transactions which can be availed during a single doorstep visit by customer accounts associated with one CIF. Customer will be charged for DSB per end user/ MATM visit and not per transaction basis.
•  Time duration of one DSB visit will be till that day EOD, means in a single day DSB charge for a single CIF will be levied only one time, all the transactions done at doorstep during that day (till EOD) will be considered as a single DSB visit.
•  Existing charges on products and services will be same
•  Product/service wise charges are attached in annexure 1 (for IPPB customers) and annexure 2 (for Non IPPB customers).
• The DSB service request can be raised by customer via existing process (Toll Free Number, CDRM & Post Info App).

 Changes in system 

• Charges will be automatically deducted from customer’s account.
• There will be a Pop-up on the MATM indicating to the End User regarding DSB charges in case applicable i.e. if he is providing service >1000 meter radius and if the service is chargeable. The customer will thus be suitably informed by End User.
• This is applicable also to the ad-hoc service requests and fulfillment by the end users.

 Benefit to Postman/GDS

• At present postmen/GDS are providing IPPB services to customers at their doorstep at zero DSB charges. The introduction of DSB charges will open new “incentive stream for end users”.
• Incentive will be as per existing MoU between DoP and IPPB i.e., 25% to L0, 4.5% to L1 and 0.5% to L2.
• End user (L0) will earn Rs. 5/- on each DSB visit.
• Benefit to customer
• Available for both IPPB and Non IPPB customers
• Nominal charges in comparison to other banks.
• No cap on transactions in one DSB visit, hence economic to all customers.
• To ensure timely delivery of DSB service by postman/GDS, tracking and monitoring of all DSB service requests raised need to be done

India Post Payments Bank : General Insurance / Insurance – User Guide

CLICK HERE – https://drive.google.com/file/d/1z_PP8ckv6ooBvfSpipiWWpic7yDDaQDy/view?usp=sharing

FOR DETAILS & COPY (20 pages)

A kind reference is invited to this division letter of even number dated 01.02.2021 wherein Big Bang contest for Promotion of domestic Money Transfer (DMT) was launched from 1st February 2021 to 31st March 2021 for selected access points in Bihar, Delhi, Gujarat, Haryana, Karnataka, Maharastra , Punjab , Tamilnadu, telengana , Uttar Pradesh and West Bengal.

2. However, the contest could not gain much traction due to various reasons including the fact that time period of the contest coincided with the last quarter of the financial year. Considering the potential of DoP network in facilitating. Remittance accross the country, it has now been decided to extend the Big Bang contest 2.0 for all Circles till 30th June, 2021. The details of the contest are enclosed herewith.

3. In view of above, I am directed to Request circles to kindly circulate the details of contest amongst all field offices and also create awareness regarding the DMT Service being provided by IPPB through DoP network.

Introduction of Charges on Cash and AePS transactions – IPPB’s Circular -15 dtd 02.03.2021

As per the market practices and keeping in mind optimum pricing for the products and services offered by the bank, to the balance the objective of bank’s profitability while providing the best services to the customers without letting someone take undue advantage of NIL pricing and put strain on the bank’s operations, executive level Risk Management Committee (ELRMC) of the bank has approved introduction of Charges on following services in the quantam as mentioned in the table below.