1. As DOP is doing agency functions to MOF in
PODB Schemes only, Whereas IPPB is completely owned by Ministry of
Communications the Administrative Pricing Mechanism will go.i.e interest rates
will be decided by itself.
2. The Schemes operated will be only the two i.e.
CA/SA only with maximum limit of one lakh only.
3. The reason for keeping minimum balance is to
avoid high networth customers and to provide all services hitherto not
available to un/under banked low income customers.
4. After recruitment of high level functional
officers a management board will be constituted under the designated chairman
cum managing director who is going to be appointed from banking industry.The
members of the board will include secretaries of Ministry of Communications, Ministry
of Expenditure and the Ministry of Food and civil supplies all the three who
are part of IPPB and whose programs will be implemented through IPPB.
5. Choosing an operative partner is going to be
done by the board, As you all aware already more than 50 institutions are given
their consent to be part of IPPB.
6. The collected funds after RBI stipulation s of
CRR and Capital Adequacy Ratio the first 75% will be deposited in Govt
Securities and the remaining 25% will be parted with the stregetic partner
chosen for banking commercial activities.
7. The account opening mode will be hussle-free
and on E-KYC method, By just pressing your any finger on the machine and by
feeding of just your AADHAAR number. No physical presence or documentation.
8. All DBS schemes of govt of India and its
various ministries social benefit scheme last mile delivery will be ensured
only through IPPB only.
9. The other banking activities of ECS,Loan
disbursement, and collection of its EMI,and utility payments,and the money
transfer amongst the banks and clearing of cheques and instruments will be
carried out by IPPB.
10. All POSB activities will be continued till
the natural closing of the schemes takes place separately on Finacle platform
or till the integration of the leftover SOLs that's sub- offices. For the
present they will carryout IPPB operations too along with POSB module.
11. The local money lending through institutions
will be boosted by IPPB, The roadside vendors and whose mercantile activities
were not till now have the facilities of bank financing will be connected
through IPPB to the partner bank or any other bank if so desired.
12. Daily collection of deposits by postman of
that area and operation of postman as teller for their banking activities will
make sure the inclusive banking for all and at the doorstep can be achieved in
the current scenario of cash less economy this very big enterence of IPPB is
going to make a big difference.
13. Lastly,the financial stability of IPPB will
be ensured by the very big institutional backing of the the INDIA POST and its
already trained manpower, with the help of agile postman whose activities are
going to be manifold. As of now all the banks profitability is nowadays hinges
on fee based income.
Now. 16% of their income is on the services
provided. Hence the ATM services and fee based income of IPPB is conservatively
estimated at rupees 500 crores at the end of 5th year of operations. That
against an equity capital of rupees 400 crores Which makes an EPS of 1.25 rupees
against 1 rupee share value.Which will ensure it to offer its shares in public
to raise its further capital without knocking the doors of the mentor i.e govt.
14. Kindle do keep in mind IPPB is
registered Public Limited Company wholly owned by Ministry Of Communications.
