India's Postal System Is Now World's Largest Doorstep Banking Network: PM Modi

(MENAFN- IANS) New Delhi, Sep 4 (IANS) Prime Minister Narendra Modi on Thursday highlighted that India's postal system has now become the world's largest doorstep banking network, and the humble postman is playing the role of the harbinger of financial inclusion.

"With unprecedented efforts from the government, our humble postman has become the harbinger of financial inclusion. With India Post Office and IPPB Online, India's postal system is now the world's largest doorstep banking network, ensuring dignity and empowerment,” wrote PMO India on X.

He was responding to an article on India's postal system by Union Minister Jyotiraditya M. Scindia. The Prime Minister praised the article for presenting a“broader vision" on the country's postal system.

Scindia said,“Under Prime Minister Narendra Modi's clarion call of Sabka Saath, Sabka Vikas, Sabka Vishwas, India Post Office and India Post Payment Bank (IPPB) Online have redefined one of the world's oldest postal networks into the globe's largest doorstep banking system. In consonance with this vision, the India Post Payments Bank is bringing access, assurance, and aspiration directly to the doorsteps of 140 crore Indians.”

The minister has further stated in an article that the Department of Posts, with its network of 1,60,000 post offices, is writing its growth story.“Yesterday's postman now brings the promise of financial access and dignity to every doorstep in the country.”

IPPB has quietly become a national pioneer by ensuring the digitalisation of all its rural accounts. By integrating technology, expanding partnerships and diversifying services, the IPPB has transformed post offices into comprehensive financial hubs, proving that even the oldest institutions can evolve step with a rapidly changing world.

Eight years ago, the IPPB was established with a commitment to ensure that no Indian, irrespective of geography, gender, or circumstance, is excluded from the formal economy. Beyond opening accounts, it was unlocking opportunities and empowerment.

By integrating rural India into the digital economy, it has become an engine of national economic empowerment, Scindia added.

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