The India Post Payments Bank (IPPB) is a 100% government-owned payments bank operating under the Department of Posts, Ministry of Communications, which aims to utilize all of India's 155,015 post offices as access points and 3 lakh postal postmen and Grameen Dak Sewaks to provide house to house banking services. The first phase of the bank with 650 branches and 3250 post offices as access points was inaugurated on 1 September 2018. Over ten thousand postmen have been roped into the first phase.

IPPB would be like any other bank but it will operate at a smaller scale without involving any credit risks and can't issue advance loans or issue credit cards.