DakPay : India Post Payments Bank | UPSC

DakPay : India Post Payments Bank


India Post Payments Bank launches its digital payments’ services ‘DakPay’, aims to Transform Banking Experience at the last mile

      WHY IN NEWS:

DakPay is double strength of service offerings in the form of online payments and home delivery of financial services – Minister Ravi Shankar Prasad

MINISTRY? :-Ministry of Communications
SYLLABUS COVERED: GS 3 : Science and Technology : Apps : Digital Financial inclusion


India Post stood the test of times by serving the nation through various postal services digitally and physically during nationwide lockdown.

DakPay APP

DakPay : India Post Payments Bank | UPSC


Department of Posts (DoP) and India Post Payments Bank (IPPB) unveiled a new digital payment app ‘DakPay’ .

  • Launch of DakPay adds up to the legacy of India Post which is about reaching out to every household.
  • This innovative service will give access to banking services and postal products online.


The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India.


  • It will cater to the financial needs (‘Pay’) of various sections of the society – be it sending money to the loved ones (Domestic Money Transfers – DMT).
  • These services can either be utilised through an App or in assisted mode with the help of the trusted Postman.


  • DakPay is not just a digital payment app but a suite of digital financial and assisted banking services provided by India Post & IPPB through the trusted Postal (‘Dak’) network across the nation.

The App also assists with Scan QR code and make payment for services/merchants digitally (Virtual debit card & with UPI)

  • Enabling cashless ecosystem through biometrics.
  • Providing interoperable banking services to the customers of ANY BANK (AePS) and Utility Bill Payment services.


  • By providing doorstep financial assistance through AePS will lead to financial empowerment of the unbanked and the underbanked.
  • Also, it is a unique concept where one can order and avail postal financial services at doorsteps.

Dak Pay brings simplified payment solutions to all by offering all customers access to the banking and payments products and services.

  • Dak Pay is truly an Indian solution designed to address the financial needs of every Indian.
  • “The unveiling of DakPay is a landmark achievement in IPPB’s journey and will further deepen comprehensive financial inclusion to bring forth the dawn of a ‘Truly Inclusive Financial System’.


  • India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India.
  • IPPB was launched by the Prime Minister Shri Narendra Modi on September 1, 2018.

The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.

  • The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked.
  • The objective is to reach the last mile leveraging the Postal network comprising 155,000 Post Offices (135,000 in rural areas) and 300,000 Postal employees.


  • Every customer is important, every transaction is significant and every deposit is valuable.


  • Enabling Paperless, Cashless and Presence-less banking.
  • A simple and secure manner at the customers’ doorstep delivery
  • Through a CBS-integrated smartphone and biometric device.
  • Leveraging frugal innovation and with a high focus on ease of banking for the masses.

DakPay : India Post Payments Bank | UPSC

DakPay : India Post Payments Bank | UPSC

      IASbhai WINDUP: 

  • IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages.

IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India.

  • India will prosper when every citizen will have equal opportunity to become financially secure and empowered.
SUGGESTED READING : www.ippbonline.com 
     SOURCES:  PIB  | DakPay : India Post Payments Bank | UPSC



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