Address Governor at the launch of the Andheri Branch of the India Posts Payment Bank at Raj Bhavan, Mumbai

Shri Gopal Shetty, Hon’ble MP, Shri Ganesh Sawaleshwarkar, Post Master General of Maharashtra, Smt. Sumitha Ayodhya, Director Postal Services, Headquarters, officers of Income Tax, Insurance, distinguished invitees, staff and officers,

Good afternoon and welcome to Raj Bhavan.

I am indeed happy to associate myself with the launch of the Andheri Branch of the India Post Payments Bank (IPPB) from Raj Bhavan.

I am also happy to release the Special Cover on Financial Inclusion and distribute QR Cards on this momentous occasion.

This is a day of historic significance towards achieving the goal of financial inclusion as we are creating a largest network of banking services in India with strong presence in rural areas. I consider this as an affirmative step towards achieving the goal of Digital India.

I understand that along with the Andheri Branch, in all 650 branches all over the country and 3250 access points are being simultaneously launched today.

Only a few minutes ago, the Hon’ble Prime Minister of India Shri Narendra Modi launched the India Post Payments Bank at the national capital.

The India Posts has a network of 1,55,000 post offices countrywide and more than 3 lakh postmen. This inherent infrastructure is going to make India Post Payments Bank, India’s Most Accessible Bank. It will be people’s own bank.

With a history of 165 years in the service of the people of India, the institution of Posts has become an integral part of the life of the people of India.

During all these years, Posts has touched the life of the common man both in rural and urban areas. This is perhaps the only institution that has touched the life of the last person in the country.

The institution of Posts represents trust, transparency and people-friendliness. The humble postman has inspired poets and lyricists to write songs and poems. That is the power of posts.

In the olden days, Posts used to deliver Money Order. With the launch of the India Post Payments Bank, the Posts is re-inventing itself in the form of a bank. Through the India Post Payments Bank, the government will be taking the whole banking services at the door step of the people.

IPPB is going to offer services such as savings and current accounts, remittances and money transfer, direct benefit transfers, bills and utility payments and so on.

I was pleased to note that IPPB is joining hands with other organizations to provide loans, investment and insurance products also.

While loan will help the youth of India and young entrepreneurs to start new enterprises, it will also help small and farmers to augment their income through supplementary trade. There are many possibilities.

I understand that an IPPB app is also being launched. It will enable customers to pay for services to around 100 firms. Paying telephone bills, electricity charges, schools fees of children will now become easy. This means, customers don’t even need to leave their homes to make various payments.

The Government has decided to cover all 1.55 lakh Access Points in the country by 31st December 2018 and provide door-step banking services through Postmen and Gramin Dak Sevaks.

In the long run, the IPPB will help in reducing rural-urban divide and create prosperity for our people.

I congratulate the Andheri Branch for being chosen for the IPPB up-gradation and wish the Bank and all its staff and officers success in their endeavours. I wish the Mumbai and Maharashtra Post, success in their endeavors. I wish the people happy banking with India Post Payments Bank.

Thank you

Jai Hind ! Jai Maharashtra !!