A SUMMER TRAINING PROJECT REPORT

ON

A Study on Customer’s Awareness on India Post Payments Bank

Services and Its Impact on Customer’s Satisfaction in Varanasi
(Visheshwarganj)

Submitted for the partial fulfillment in third semester course of

MASTER OF BUSINESS ADMINISTRATION
(Session – 2023-2024)

SUBMITTED BY:-. Under the guidance of:-

Sandeep Yadav Mr. Sublesh Singh
Roll no.- 2206410700057 Senior Manager of IPPB

Submitted to:-
DEPARTMENT OF BUSINESS ADMINISTRATION
ASHOKA INSTITUTE OF TECHNOLOGY AND MANAGEMENT
Affiliated to Dr. A.P.J. Abdul Kalam Technical University, Uttar Pradesh, Lucknow

1
 A SUMMER TRAINING PROJECT REPORT
ON

A Study on Customer’s Awareness on India Post Payments Bank

Services and Its Impact on Customer’s Satisfaction in Varanasi
(Visheshwarganj)

Submitted for the partial fulfillment in third semester course of

MASTER OF BUSINESS ADMINISTRATION
(Session – 2023-2024)

SUBMITTED BY:-. Under the guidance of:-

Sandeep Yadav Mr. Sublesh Singh
Roll no.- 2206410700057 Senior Manager of IPPB

Submitted to:-
DEPARTMENT OF BUSINESS ADMINISTRATION
ASHOKA INSTITUTE OF TECHNOLOGY AND MANAGEMENT
Affiliated to Dr. A.P.J. Abdul Kalam Technical University, Uttar Pradesh, Lucknow

Signature of Internal Examiner:- Signature of External Examiner:-

2
 Project Certificate Forwarded by
Supervisor
This is to certify that SANDEEP YADAV, is a regular student of MBA
2nd year, and had successfully completed his summer training project
entitled A Study on Customer’s Awareness on India Post Payments
Bank Services and Its Impact on Customer’s Satisfaction for partial
fulfilment of the curriculum for the award of the degree of Master of
Business Administration from Dr. A.P.J. ABDUL KALAM
TECHNICAL UNIVERSITY, LUCKNOW, is an original work done
by him.

Guided By
Mr. Shublesh Kumar Singh
(Senior Manager, IPPB Varanasi Branch)

3
 Declaration
I, Sandeep Yadav, hereby declare that the report entitled "India Post
Payments Bank" is a Training work carried out by me independently.
The information presented done is correct to the best of my knowledge
and the analysis is as per the norms and guidelines provided for the
report. I have utilized the requisite concepts and applied the required
methodologies to analyze the data collected to reach the conclusion
present in the report.

Date:- Sandeep Yadav

Place:- VARANASI MBA 3rd SEMESTER
ROLL NO: 2206410700057

4
 Acknowledgement
I consider it a privilege to express a few words of gratitude and respect to all who
guided and inspired me in successful completion of this project.

I am overwhelmed with pleasure to express my gratitude towards Mr. Sublesh

Singh (Senior Manager) of IPPB for granting this project to me and giving an
opportunity to work with such an esteemed organization.

It is my sincere duty to do my best so as to recognize as one amongst the most

successful professional, which I always strive to be .This bring along and frame
to my beloved institution, the ASHOKA INSTITUTE OF TECHNOLOGY &
MANAGEMENT.

I also extend particular thanks to our Project Guide Mr. Amit kumar singh for
guiding me in my project. I would also like to thank all the teaching and non
teaching staff member and all others who helped me directly or indirectly in the
successful completion of this project.

There is no love like parents. I pay my most sincere regards to my parents

deserves a very special word of appreciation for their invaluable support
encouragement and pains taking efforts without which this goal would have been
a much difficult.

Date: Sandeep Yadav

Place: Varanasi MBA 3rd Semester
Roll no: 2206410700057

5
 Table of Contents:-

1 Industry Profile/Company profile 6-35

2 Introduction to the topic 36-38

3 Objective of the study 39-40

4 Scope of the study 41-43

5 Methodology on data collection 44-46

6 Data analysis 47-63

7 Findings 64-68

8 Limitations 69-70

9 Suggestions 71-74

10 Conclusion 75-77

11 Appendices 78-81

12 Bibliography 82-83

13 References 84-85

6
Chapter1

7
 Introduction to Indian banking system

India is one of the fastest-growing economies in the world, and its

banking sector has played a critical role in this growth. The Indian
banking sector has undergone a significant transformation in recent
years, with the introduction of new technologies, increased foreign
investment, and regulatory reforms. The sector comprises various types
of banks, including public sector banks, private sector banks,
cooperative banks, and foreign banks. With a vast network of branches
spread across the country and a growing customer base, the Indian
banking sector has become a crucial component of the country's
financial infrastructure. In this article, we will provide an overview of
the Indian banking sector.

Modern banking in India originated in the mid of 18th century. Among

the first banks were the Bank of Hindustan, which was established in
1770 and liquidated in 1829–32; and the General Bank of India,
established in 1786 but failed in 1791.

The largest and the oldest bank which is still in existence is the State
Bank of India (SBI). It originated and started working as the Bank of
Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of
Bengal. This was one of the three banks founded by a presidency
government, the other two were the Bank of Bombay in 1840 and
the Bank of Madras in 1843. The three banks were merged in 1921 to
form the Imperial Bank of India, which upon India's independence,
8
became the State Bank of India in 1955. For many years, the presidency
banks had acted as quasi-central banks, as did their successors, until
the Reserve Bank of India[5] was established in 1935, under the Reserve
Bank of India Act, 1934.

In 1960, the State Banks of India was given control of eight state-
associated banks under the State Bank of India (Subsidiary Banks) Act,
1959. How ever the merger of these associated banks with SBI went
into effect on 1 April 2017. In 1969, the Government of
India nationalised 14 major private banks; one of the big banks
was Bank of India. In 1980, 6 more private banks were nationalised.
These nationalised banks are the majority of lenders in the Indian
economy. They dominate the banking sector because of their large size
and widespread networks.

The Indian banking sector is broadly classified into scheduled and non-
scheduled banks. The scheduled banks are those included under the 2nd
Schedule of the Reserve Bank of India Act, 1934. The scheduled banks
are further classified into: nationalised banks; State Bank of India and
its associates; Regional Rural Banks (RRBs); foreign banks; and other
Indian private sector banks. The SBI has merged its Associate banks
into itself to create the largest Bank in India on 1 April 2017. With this
merger SBI has a global ranking of 236 on Fortune 500 index. The term
commercial banks refers to both scheduled and non-scheduled
commercial banks regulated under the Banking Regulation Act, 1949.

9
Generally the supply, product range and reach of banking in India is
fairly mature-even though reach in rural India and to the poor still
remains a challenge. The government has developed initiatives to
address this through the State Bank of India expanding its branch
network and through the National Bank for Agriculture and Rural
Development (NABARD) with facilities like microfinance.

History of Indian Banking Sector

The evolution of the Indian banking sector dates back to the late 18th century,
when the General Bank of India was established in 1786. Since then, the sector
has undergone several significant transformations and has played a pivotal role
in the country's economic development. Following is a timeline of some of the
critical events that shaped the Indian banking sector:

o 1806: The Bank of Calcutta was established, followed by the Bank of

Bombay (1840) and the Bank of Madras (1843), which together formed the
presidency banks.
o 1921: The Imperial Bank of India was established after the amalgamation
of the three presidency banks.
o 1935: The Reserve Bank of India (RBI) became operational as the central
bank of the country.
o 1949: The Banking Regulation Act gave the RBI extensive regulatory
powers over banks.
o 1969: The government nationalized 14 major commercial banks.
o 1980: Six more commercial banks were nationalized, taking the total
number of nationalized banks to 20.
o 1991: Economic liberalization led to the entry of private and foreign banks
in the Indian banking sector.

10
 o 1993: The Securities and Exchange Board of India (SEBI) was established
to regulate the securities market in India.
o 2000: The National Stock Exchange of India (NSE) was set up, becoming
the largest stock exchange in India in terms of market capitalization.
o 2002: The RBI introduced the concept of internet banking, allowing
customers to perform banking transactions online.
o 2015: The Pradhan Mantri Jan Dhan Yojana, a financial inclusion program
aimed at providing banking services to the underprivileged sections of
society, was launched by the government.

These events trace the history of the Indian banking sector, which has
continuously adapted to changing times and evolving customer needs.

Small finance banks

To further the objective of financial inclusion, the RBI granted
approval in 2016 to ten entities to set up small finance banks. Since
then, all ten have received the necessary licenses. A small finance bank
is a niche type of bank to cater to the needs of people who traditionally
have not used scheduled banks. Each of these banks is to open at least
25% of its branches in areas that do not have any other bank branches
(unbanked regions). A small finance bank should hold 75% of its net
credits in loans to firms in priority sector lending, and 50% of the loans
in its portfolio must be less than ₹25 lakh (US$34,000).[66]

Payment Banks
Payments bank is a new model of banks conceptualized by the Reserve
Bank of India (RBI). These banks can accept a restricted deposit, which
11
is currently limited to ₹2 lakh per customer. These banks may not issue
loans or credit cards, but may offer both current and savings accounts.
Payments banks may issue ATM and debit cards, and offer net-banking
and mobile-banking. The draft guidelines for licensing of payments
banks in the private sector were formulated and released for public
comments on 17 July 2014. The banks will be licensed as payments
banks under Section 22 of the Banking Regulation Act, 1949, and will
be registered as public limited company under the Companies Act,
2013.

Types of Banks in the Indian Banking Sector

The Indian banking sector is composed of several types of banks, each

with different ownership structures and operational characteristics. The
types of banks in the Indian banking sector include:

Central banks: The Reserve Bank of India (RBI) is the central bank
of India and is responsible for regulating the banking sector, managing
monetary policy, and maintaining financial stability. It is also
responsible for printing currency notes, managing foreign exchange
reserves, and providing banking services to the government.

Commercial banks: Commercial banks are the most common type

of banks in India and offer a wide range of financial services to
individuals, businesses, and other organizations. They include public
sector banks, private sector banks, and foreign banks.

12
Public sector banks: These are banks in which the government has
a majority stake, and they are also referred to as nationalized banks.
They were established with the objective of promoting financial
inclusion and providing banking services to all sections of society.

Private sector banks: These are banks owned by private

individuals or corporations. They are divided into two categories: old
private sector banks, which were established before liberalization, and
new private sector banks, which were established after liberalization.

Foreign banks: These are banks that are headquartered outside India
but have a presence in India. They are regulated by the Reserve Bank
of India and must comply with Indian banking laws and regulations.

Cooperative banks: These are banks that are owned and operated
by members of a cooperative society, usually with a common interest
or purpose. They are further divided into two types: urban cooperative
banks and rural cooperative banks.

Regional Rural Banks: RRBs were established with the objective

of providing banking services to the rural areas of India. They are
jointly owned by the central government, state government, and
sponsor banks (i.e., public sector banks).

13
Specialized/Development banks: There are various types of
specialized banks in India that cater to specific sectors or industries.
For example, the National Bank for Agriculture and Rural
Development (NABARD) provides financial services to the
agricultural sector, while the Small Industries Development Bank of
India (SIDBI) provides financial services to small and medium-sized
enterprises (SMEs).

Payment banks: Payment banks are a new category of banks in

India that were introduced with the objective of increasing financial
inclusion and providing basic banking services to underserved
segments of the population. They can accept deposits up to Rs. 2 lakh
and offer services such as remittance, mobile payments, and
ATM/debit cards.

Services offered by the Indian Banking sector

The Indian banking sector offers a wide range of services to its

customers, from individuals to large and small businesses. Following
are some of the main services offered by the banking system of India:

Deposits: Banks offer various types of deposit accounts, such as

savings accounts, current accounts, fixed deposit accounts, recurring
deposit accounts, and tax-saving deposit accounts. These accounts
provide a safe place to deposit money and earn interest on the amount.

14
Loans: Banks provide various types of loans, such as home loans, car
loans, personal loans, education loans, and business loans. These loans
help individuals and businesses meet their financial needs and goals.

Credit cards: Bank-issued credit cards allow individuals to make

purchases on credit and pay back the amount over time or on an agreed
upon date. Credit cards also offer rewards and cashback on
transactions.

Debit cards: debit cards allow individuals to withdraw cash from

ATMs and make purchases using the card's balance. Debit cards are
linked to a savings or current account and are used to access and make
payments directly from the funds in the account.

Online and mobile banking: These are services that allow customers
to access their accounts, transfer funds, pay bills, and make other
transactions from the convenience of their homes or mobile devices.
For example, Real-Time Gross Settlement (RTGS), National electronic
Fund Transfers (NEFT) etc.

Investment products: Banks offer various investment options, such as

mutual funds, insurance products, and fixed deposits, that help
individuals grow their wealth and meet their long-term financial goals.

15
Forex and remittance services: the banking sector offers foreign
exchange and remittance services that allow individuals and businesses
to send and receive money from across borders.

Trade finance services: trade finance services, such as letters of credit,

bank guarantees, and export financing, help businesses engage in
international trade.

Challenges faced by the Indian Banking System

The Indian banking system faces several challenges that can impact its
growth and stability. Some of the main challenges faced by the Indian
banking system have been illustrated below:

1. Non-performing assets: The problem of NPAs, or bad loans, is

a major challenge faced by the Indian banking system. NPAs arise
when borrowers fail to repay their loans, leading to a significant
impact on banks' profitability and liquidity.

2. Cybersecurity risks: As the banking sector becomes

increasingly digitized, the risk of cyber attacks and data breaches
has become a major concern. Banks need to invest in robust
cybersecurity measures to protect their systems and customer
data.

16
3. Regulatory compliance: The Indian banking sector is highly
regulated, with several laws and regulations that banks must
comply with. Ensuring compliance with these regulations can be
a complex and time-consuming process.
4. Competition from new players: The Indian banking sector is
witnessing increased competition from new players, such as
payment banks and fintech companies. These players are
leveraging technology to offer innovative products and services,
challenging the traditional banking model.
5. Financial inclusion: Despite significant progress in recent years,
financial inclusion remains a challenge in India. A large segment
of the population, especially in rural areas, still lacks access to
basic banking services.
6. Skilled workforce: Banks require a skilled and experienced
workforce to manage their operations and offer high-quality
services to customers. However, many banks struggle to attract
and retain talented professionals.

17
A-Z List of Banking Terminologies

The below section covers a full list of banking Terminologies starting from A up to Z.

Account- It refers to the running record of transactions that take place

between two parties. In the banking sector, the two individuals are the
banks and the customers. Simply put, it is the account of nominal
interest.

ATM (Automated Teller Machine)- ATMs are machines that help in

dispensing and/ or receiving cash, accepting deposits, checking details
of bank balance, etc.

Annuity- It is the fixed amount of money that is paid to somebody each

year, usually for the rest of his/ her life.

Assets- It is a resource with economic value that an individual,

corporation, or country owns or controls with the expectation that it
will provide benefits in future.

Bailout- It is done to rescue the company facing financial difficulties

at an extreme level

Balance Sheet- It is a financial statement that reports a company’s

assets, liabilities, and shareholders’ equity at a specific point in time,
and provides a basis for computing rates of return and evaluating its
capital structure

18
Bank Credit- It refers to the lending by banks to customers through
various means such as loans, discounting of bills of exchange, etc

Bank deposits- It is opposite to the bank credit. It implies to depositing

own savings with the banks for various purposes ranging from safety
to earning interest

Banknote- A note issued by the bank promising to pay a certain

specified amount of money when being presented

Bank Rate- It is the rate of interest charged by a central bank to

commercial banks on the advances and the loans it extends.It is also the
rate of discount at which the Reserve Bank of India (RBI) discounts the
first-class bills. Bank rate is one of the quantitative methods of
monetary policy.

Bankruptcy- It is a legal process through which people or other

entities cannot repay debts to creditors and may seek relief from some
or all of their debts.

Bridge Loan- It is a loan made by the bank for a very short period to
make up for the temporary shortage of cash

Bancassurance- It refers to the distribution of insurance products and

the insurance policies of the insurance companies by the banks as
corporate agents through the bank’s branches.Banks generally charge
a fee for this service from insurance companies.

19
Bouncing of a cheque- It is a situation when an account has
insufficient funds and any type of cheques is not payable and thus
returned by the bank with a reason “Exceeds arrangement” or “funds
insufficient”

Base Rate- It is the rate of interest on which the banks generally base
their lending rates. It is seen that the loans are given at a rate higher
than the base rates and the saving rate is below the base rate.

Basis point- It is one-hundredth of 1% point which is normally used

for indicating the cost of finance

Bills of exchange- According to section 5 of the Negotiable

Instruments Act of 1881, a bill of exchange is an instrument in writing
containing an unconditional order signed by the maker, directing a
certain person to pay a certain amount of money, only to, or to the order
of, a certain person, or the bearer of the instrument.

Call Money- It is a loan that is made available for a very short period
of a few days only with a low rate of interest.

Capital Assets- The asset which is not bought or sold as part of the
everyday running of the business

Cash- It refers to that money which is in the form of banknotes and/ or

coins

Capital Expenditure- Non Recurring nature of expenditure is used in

purchasing of capital assets.
20
Cash cow- Those enterprises that yield high earnings but often have
low growth potential

Cheque- It is written by an individual to transfer an amount between

two accounts of the same and/ or different bank

Core Banking- It is a general term used to describe the services

provided by a group of networked bank branches

Core Banking Solutions (CBS)- In CBS, all the branches of the bank
are connected and the customer can access their funds and/ or
transactions from any other branch.

Cash Reserve Ratio (CRR)- It refers to the number of funds that a

bank has to keep with the Reserve Bank of India (RBI).If the
percentage of CRR increases, then the amount with the bank cosem
down and vice versa.

Current Account- It is an account that can be opened generally for

business purposes with no restrictions on withdrawals and no interest
paid

Cash Discount- It is the discount given at the time of payment

Cash flow- It refers to the movement of money into and out of a

business as goods are bought and sold

Cheap money- It is a loan or credit with a low-rate interest ro the

setting of low-interest rates by the RBI

21
Certificate of Deposit- It is the certificate issued by a bank to a person
depositing money for a specified length of time at a specified rate of
interest

Collateral Security- It is the asset which a borrower is required to

deposit with or pledge to a lender as a condition of obtaining a loan
which can be sold off if the loan is not repaid

Commercial Banks- They are a financial institution that accepts

deposits, offers checking account services, extends various loans, and
offers basic financial products like the certificate of deposits, and
savings accounts to individuals and small businesses.

Credit Card- It is a payment card issued to the users to enable the

cardholder to pay a merchant for goods and services based on the
cardholder’s promise to the card issuer to pay them for the amounts
plus the other agreed charges

Crossing the Cheque- It is instructing the banker to pay a specified

sum through the banker only, that is, the amount on the cheque has to
be deposited directly to the bank account of the payee

Debit card- It is a card issued by the bank so that the customers can
withdraw their money from their account through digital banking.

Demat Account- It refers to how a bank keeps money in a deposit

account in the same way the depository company converts share
certificates into electronic form and keep them in a demat account

22
Dishonour of Cheque- It refers to the non-payment of a cheque by the
paying banker with a return memo giving reasons for non-payment

E-banking- It is a type of banking in which individuals can conduct

financial transactions digitally. RTGS, Credit cards, debit cards, UPI,
etc. are included in e-banking

EFT (Electronic Fund Transfer)- Under this, an ATM, wire transfer,

and computers are used to move funds between different accounts in
the different and/ or the same bank

Fiscal deficit- It is the number of funds borrowed by the government

to meet the expenditures

Finance- It is a term for matters regarding the management, creation,

and study of money and investments

Flat money- It is a currency established as money, often by

government regulation that does not have an intrinsic value

Hot money- It is capital that investors regularly move between

economies and financial markets to profit from the highest short term
interest rates

Hypothecation- It is the practice where a debtor pledges collateral to

secure a debt or as a condition precedent to the debt, or a third party
pledges collateral for the debtor.A letter of hypothecation is the usual
instrument for carrying out the pledge.

23
Idle Money- It is the money that has not been invested and is therefore
not earning interest or investment income of any kind.

Insolvency- It is a state of financial distress in which a person or

business is unable to pay its debts.

Interest- It is the payment form a borrower or deposit-taking financial

institution to a lender or depositor of an amount above repayment of
the principal sum, at a particular rate.

Inflation- It is an increase in the quantity of money in circulation

without any corresponding increase in goods, resulting in an abnormal
rise in the price level.

Initial Public Offering (IPO)- It refers to the time when a company

makes the first offering of the shares to the public.

Kiosk Banking- It refers to doing banking from a cubicle from which

food, newspapers, etc. are also sold.

Leverage Ratio- It is a financial ratio that gives an idea or a measure

of a company’s ability to meet its financial losses.

Letter of Credit- A letter issued by the bank to another bank

(especially one in a different country) to serve as a guarantee for
payments made to a specified person under specified conditions.

Liabilities- It is something a person or a company owes, usually a sum

of money

24
Lien- A right to keep possession of property belonging to another
person until a debt owed by that person is discharged

Liquid Assets- It is an asset that can be easily converted into cash in a

short duration of time.

Liquidity- It is the ability to convert an investment quickly into cash

without any loss in its value.

Lease- A legal agreement that allows the use of a building or land for
a fixed period in return for a rent.

Market Capitalization- It is the product of the share price and the

number of the company’s outstanding ordinary shares.

Mortgage- It is a kind of security which one offers for taking an

advance or loan from a lender.

Mutual Fund- These are investment schemes that help pool money
from various investors to purchase securities.

Microfinance- It is a category of financial services targeting

individuals and small businesses that lack access to conventional
banking and related services.

Monetary Policy- It refers to the central bank policy concerning the

money in the economy, the rate of interest, and the exchange rate.

25
Non Performing Assets (NPAs)- They are the loans given by a bank
on which repayments and/ or interest payments are not being made on
time.

Near Money- Near or quasi money consists of highly liquid assets that
are not cash but can easily be converted into cash.

Negotiable Instruments- It is a document guaranteeing the payment

of a specific amount of money, either on demand or at a set time, whose
payer is usually named on the document.

Overdraft- It occurs when money is withdrawn from a bank account

and the available balance goes below zero. In such a situation, the
account is said to be “overdrawn”

Permanent Account Number (PAN)- It is a number issued by the

Income Tax department to the taxpayers

Plastic Money- It is a name given to credit cards, ATM cards, debit

cards, and international cards issued by the banks.

Point of Sale (PoS)- It refers to a location at which payment of a card

transaction occurs.

Prime Lending Rate (PLR)- It is the rate of interest at which a bank

gives a loan to its most reliable customer, that is, a customer with ‘zero
risks’.

26
Pass Book- It is a book where all the bank transactions are recorded.
They are mainly issued to current or savings bank account holders.

Repo Rate- It is seen that the commercial banks borrow funds from the
RBI if there is any shortage in their reserves. If the REPO rate increases,
it becomes expensive to borrow money from the RBI and vice versa.

Reverse Repo Rate- It is the opposite of repo rate as it is the rate at

which the RBI borrows money from the banks when it observes that
too much money is floating in the banking system.

Special Drawing Rights (SDR)- It is a reserve asset (Paper Gold)

created within the framework of the IMF in a bid to increase
international liquidity.

Teller- It is a staff member of the bank who cashes cheques, accepts

deposits, and performs various banking services for the bank’s
customers.

Universal Banking- When financial institutions and banks undertake

activities related to banking, like an investment, issue of debit and/ or
credit card, etc. then it is generally known as universal banking.

Virtual Banking- Internet banking is also called virtual banking as

there are no bricks or boundaries involved. It is mainly operated by the
internet.

27
Wholesale Banking- It is similar to retail banking with a slight
difference that it is mainly focused on the financial needs of the
institutional clients and the industry.

Zero Coupon Bond- They are sold at a good discount as they have no
coupon.

Classification of bank in india

28
 Introduction to IPPB Bank

At India Post Payments Bank, we believe that a nation can grow when
every citizen has an opportunity to prosper, regardless of their way of
life. With simple, diverse and growth-oriented offerings, IPPB aims to
provide every household in India an access to efficient banking services
and enable them to become financially secure and empowered.

India Post Payments Bank (IPPB) was setup under the Department of
Post, Ministry of Communication with 100% equity owned by
Government of India. IPPB was launched as a pilot project on 30
January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with
the objective of being present across India by the FY 2018-2019. IPPB
has expanded its strength across India covering post offices, through a
network one Branch and 649 Banking outlets manned by
Business Correspondents, working on a hub and spoke model.

The India post payment bank started in 1st September 2018, owned by
the Indian government. India post payment bank started by Prime
Minister Narendra Modi. India post payment bank undertaken by the
Indian post offices. The payments bank money will be provide by the
Reserve Bank of India. The India post payment bank will be linked to
the 155000 Indian post offices. The payments bank offered by the
current and savings account, money transfer, direct benefit transfer.
This type of payment bank will be provide the counter services, online
banking, atm cards, mobile banking apps.
29
 History
On 19 August 2015, the India Post received licence to run a payments
bank from the Reserve Bank of India. On 17 August 2016, it was
registered as a public limited government company for setting up
a payments bank. IPPB is operating with the Department of
Posts under Ministry of Communications.

The pilot project of IPPB was inaugurated on 30 January 2017

at Raipur and Ranchi. In August 2018, the Union Cabinet approved a
cost of ₹1,435 crore (US$180 million) for setting up the bank. The first
phase of the bank with 650 branches and 3,250 post offices as access
points was inaugurated on 1 September 2018. Over ten thousand
postmen have been roped into the first phase. By September 2020, the
bank had acquired about 3.5 crore customers. The bank had acquired
about 4 crore customers by December 2020. In January 2022, India
Post Payments Bank has crossed 8 crore customers mark.

Introducing an easier and quicker way of opening an online account

with IPPB’s digital savings account! That's right, no more paper work
is required. One can enjoy a range of best digital savings account
services on their mobile phone. The process is simple – the applicant
needs to download our mobile app enter his/her PAN number, Aadhaar
number and start banking with us.

30
Here's how it started:

September 2015
Department of Post Receives in-principal approval from RBI to set up
payments bank.

January 2016
PBI division of DoP earmarks Rs. 800 crore funding amount for IPPB

August 2016
India Post Payments bank incorporated on 17th August 2016 as a 100%
Government of India owned bank under the Department of Posts

January 2017
Receives Payments bank license from Reserve Bank of India (RBI)
IPPB started its operations on 30th January, 2017 by opening two pilot
branches, Raipur and Ranchi.

31
1.2 Vision & Mission of IPPB

IPPB’s Vision:

Building the most accessible, affordable and trusted bank for the
common man.

IPPB’s Mission:

Spearheading financial inclusion by removing barriers and reducing

costs for accessing banking services.

Indian Post Payments Bank with the vision of building the most
affordable, accessible, and trusted bank for the common man and
driving the agenda of financial inclusion for the under-banked
population will be governed by RBI.

Though the services of Indian Post Payments Bank is for all the
citizens; the primary focus of IPPB is serving the low-income
households, social sector beneficiaries, unorganized sector, migrant
laborers, MSMEs – Micro Small and Medium Enterprises, and
Panchayats in rural areas also the under-banked and unbanked
segments in both the urban and rural areas.

IPPB offers services through a mix of physical and digital platforms.

Channels used for delivering IPPB services include:

32
  Doorstep, mobile and internet banking (three pillars of IPPB)
 Counter operations
 Pre-paid instruments such as PoS, mobile wallets, MPoS, etc.
 ATMs/micro ATMs

1.3 Services of IPPB Bank

Postman/GDS( Gramin Dak Sewas) Services

IPPB offers banking services in rural, semi-urban and urban areas

through Doorstep banking services, powered by an efficient network of
Postman/GDS. As a customer, you can avail the Doorstep banking
services at your communication address, be it residential or
shop/business.

Features and Benefits

 Easy, Convenient and paperless account opening

 You can choose a time slot of your convenience for Doorstep
banking
 Takes financial inclusion to the last mile of the nation/Enables
banking even in the most remote areas in the country

33
Services provided by the GDS/Postman

Customer On-boarding

The GDS/Postman will open your requested type of account by visiting

your registered address. You can open any of the following accounts
using this service:

 Basic savings account

 Regular savings account
 Salary account
 Current account (This type of account can be opened in addition
to any one of the above three accounts)

Merchant On-boarding

 You can open a current account and avail Merchant Services

through our Postman/GDS at your doorstep
 Once on-board, you can enjoy digital payment acceptance
solutions and manage your day-to-day business activities
efficiently

34
Account Services

 Cash deposit and withdrawals

 Instant money transfers
 Easy money transfer to your own as well as to other IPPB
accounts
 Bill payments
 Account modification
 Domestic Money Transfer services for IPPB and Non-IPPB
customers

Third Party Products

 Third-party insurance – Group term insurance

 Payments of DoP products like PPF, SSA, Rd and LARD
 Issuance of Digital Life Certificate

35
Other Account-Related Services

 Update PAN and nominee details

 Beneficiary management
 Request for account statement and related reports
 Add/delete standing instructions
 QR card re-issuance
 Aadhaar linking
 Share Complaints/Feedback with the GDS/Postman
 Upgrade Account and Update personal details through our
Doorstep banking services
 Avail the facility of sweep-in and sweep-out at your doorstep

36
Chapter 2

37
 Customer’s Awareness on India Post
Payments Bank Services
• Government should create more awareness about the post office
savings schemes among the people and also providing
advertisement about postal services.
• The Reserve Bank of India has been taking several initiatives to
enhance financial education and awareness amongst the
customers on extant regulations to protect their financial rights,
safe banking practices & complaint redressal mechanism like
Internal Grievances Redress (IGR) and Alternative Grievance
Redress (AGR) mechanism of RBI.
• As a part of the Reserve Bank of India’s initiatives, India Post
Payments Bank (IPPB) is organizing several awareness and
outreach programmes across India to facilitate financial inclusion
for easy access to financial services. IPPB has the advantage of
an extensive network of Department of Posts to reach the
remotest part of India, believes that Financial Literacy is a
powerful tool.

38
 Impact on Customer’s Satisfaction
 Customer satisfaction is the main objective of any banking sector
to provide quality product which help in retaining the customer.
 In Traditional banking the customers used to stand in a long queue
to fill the forms for deposit or withdrawals .
 But now the modern banking like India Post Payments Bank does
not face all this difficulty, it has bought modern technology to
provide better satisfaction to its customers like online banking,
credit card facilities, online payment and transaction.
 According to a 2021 Forbes report, India Post Payments Bank
(IPPB) was ranked 11th among the top banks in India. The
ranking was based on customer feedback on overall satisfaction
and key attributes like trust, fees/charges, customer service,
digital services, and financial advice.

39
Chapter 3

40
 Objectives of the study
The objectives of a research are the important elements for conducting
research as it helps in determining the possibility of conducting the
study. A clear objective helps in easy investigation and analysis of the
problem understudy. The present study deals with is analytical study of
administrative operational efficiency of India Post Payment Bank with
reference to varanasi district.

 To study Customer awareness and satisfaction about financial

product and services which are very crucial for the success of
IPPB Bank.

 The current IPPB technology allows the customer to buy

products or consumer services using their bank account and other
services from any place.

 To find out the various schemes known by the public.

 To analyze about various types of accounts provided by the post

office banking system.

 To acquire knowledge about establishment of IPPB and

personnel preferences of the public.

41
Chapter 4

42
 SCOPE OF THE STUDY
The study was conducted in some of the major post office branches in
Varanasi district. The customers of these branches were interviewed
and their perception about the various financial services offered by
these post office branches was studied.

The study intended to examine the satisfaction level of the post office
customers who are utilizing the various financial services and 13 to
analyze their actual requirements and needs and how far these are
fulfilled by the post offices branches.

This study examines the perception of the customers towards financial

services in post offices by using various appropriate statistical
techniques and tools.

We have selected some popular post office branches in Varanasi district

for this study. Due to being a busy industrial district with large and
frequent fund transaction, easy and convenient financial services are
the most important requirements in Varanasi district.

The study also helps to create awareness among the investors about
various post office deposits schemes. On basis of the study, the
Government can make suitable changes to promote the various post
office saving schemes according to the respective needs of the
investors. Hence there is a wide scope for conducting this research in
Varanasi district.

43
The study aims to create awareness among the investors about various
post office deposits schemes. It helps working people to invest in
various post office deposits schemes and the National Saving
Organization (NSO) and the Post Offices to know the problems faced
by investors while investing in post office deposits schemes. On basis
of the study, the Government can make suitable changes to promote the
various post office saving schemes according to the respective needs of
the investors.

44
Chapter 5

45
Research methodology
Research is a scientific and systematic research for patent information
on a specific topic

Descriptive research: -
descriptive research defines questions people survey and the method
of analysis prior to beginning data collection in other word the Who
what where when why I and how aspects of the research should be
defined. such preparation allows one the opportunity to make any
required changes before the costly process of Data Collection has
begun.

SAMPLE SIZE AND METHOD OF SELECTING SAMPLE

Sa mple size
Sampling is simply the process of learning about population on the
basis of learning about population on the basis of a simple drawn from
it
SAMPAL SIZE- 100 People is selecting from Varanasi.

Method of selecting sample: -

46
PRIMARY DATA
- data is collected primary through personal contact meeting interview
and questionnaire with the concerned authority of the organisation and
respondents

SECONDARY DATA
- data are collected through secondary modes such age various
published data reports related book and website

47
Chapter 6

48
 DATA ANALYSIS AND
INTERPRETATION
GENDER-WISE CLASSIFICATION
Particulars No. of Respondents
Male 56
Female 43
others 1
Total 100

Gender

1, 1%

Male
43, 43%
Female
56, 56%
others

Interpretation

The data shows that the respondents were composed of 56% male,
43% female and 1% others. it can be inferred that majority of the
respondents are male, compared to 43 female and 1 others, in a total of
100

49
 AGE-WISE CLASSIFICATION
Particulars No.of respondent
Below 25 40
Between 25 and 50 35
Between 50 and 60 15
Above 60 10
Total 100

45
40
35
30
25
20
15
10
5
0
Below 25 Between 25 and 50 Between 50 and 60 Above 60

Interpretation

The Table shows that out of 100, 37% of respondents fall under the age
of 0-25,40% of the respondents fall under the age group below 25, 15%
of the respondents fall under the age group of 50-60 and 10% of the
respondents fall under the age group above 60. The majority
respondents are of the age between below 25.

50
 CLASSIFICATION ON THE BASIS OF
OCCUPATION
Particulars no.of Respondents
Agriculturist 25
Business or Profession 15
Salaried class 20
Student 30
Others (retired, home makers, etc) 10
Total 100

Interpretation
The Table show that out of 100, 25% of respondents are agriculturist,
15% of the respondents are in the business and professional field, 20%
of the respondents are salaries class, 30% of respondent are the student
and 10% of the respondents are others. The majority respondents are
students

51
 CLASSIFICATION ON THE BASIS OF
PUBLIC AWARENESS ON IPPB
Particulars No.of Respondents
yes 66
no 34
total 100

34%

yes
66%
no

Interpretation

The Table shows that out of 100 respondents, 66% of the respondents
are aware about India Post Payments Bank services and 34% of the
respondents are not aware about the service. It can be inferred that
majority of the respondents are not aware about the service.

52
 Classification on the basis of all services
provided
Services no.of respondents
Mobile banking 30
sms banking 10
missed call banking 5
phone banking 55
total 100

55

30

10
5

MOBILE SMS BANKING MISSED CALL PHONE

BANKING BANKING BANKING

Interpretation

When asked for the preference of people regarding IPPB Bank services
30% of tthe response where service to be using the Mobile banking of
IPPB bank where as 10%were using SMS banking and 5% were using
Missed call banking and 55% the one swho were connected to phone
banking.

53
 TYPE OF ACCOUNTS HELD BY THE
RESPONDENTS
Particulars No.of respondents
Saving account 40
Recurring Account 20
Term Deposit Account 8
Public Provident Account 10
Kisan Vikas Patra 20
Others 2
total 100

Interpretation

The Table shows that out of 100 respondents, in which 40% belongs
to Savings Account category, 20% belongs to Recurring Account
category, 8% belongs to Term Deposit Account category, 10% belongs
to Public Provident Fund Account category, 20% belongs to Kisan
Vikas Patra category and 5% belongs to others. The majority of the
respondents are holders of Savings Account.

54
 Classification on the basis of sources of
awareness on IPPb
Particulars No.of Respondents
Advertisement 40
Friends and Families 30
agents 30
total 100

40
35
30
25
20
15
10
5
0
No.of Respondents
Advertisement
Friends and
Families agents

Interpretation

The Table shows that out of 100 responds, 40% of the respondents have
been aware of IPPB through the help of advertisements, 30% of the
respondents have an account with IPPB through friends and families
and 30% of the respondents got awareness from agents of IPPB.
Majority of the respondents got the awareness through friends and
families.

55
 CLASSIFICATION ON THE BASIS OF
HOW THE STAFFS RESPOND TO
THEIR CUSTOMERS

Particulars No.of respondents

Friendly 75
Lae Responds 19
Indifferent Approach 5
Any other 1
Total 100

Friendly
Lae Responds
Indifferent Approach
Any other

Interpretation

The Table shows that out of 30 Respondents, 75 respondents find the

staffs are friendly, 19 respondents find their staffs that they respond
late, 5 respondents find their staffs give an indifferent approach and 1
respondent opted for others. The majority of the respondents feels are
their staffs respond late.
56
 CLASSIFICATION OF CUSTOMERS
WHO WOULD SUGGEST OTHERS TO
START AN ACCOUNT
Particulars No.of respondents
yes 80
no 20
total 100

No.of respondents

80
70
60
50
40
30
20
10
0
yes no

Interpretation
The Table and Figure shows that out of 100 Respondents, 80% of the
respondents would suggest others to start an account and 20% of the
respondents would not encourage others to start an account. The
majority of the account holders are interested to suggest others to start
an account with India Post.

57
CLASSIFICATION ON THE BASIS OF
SATISFACTION OF INTEREST RATE
PROVIDED
Particulars No.of
Respondents
Yes 60
No 40
Total 100

NO 40

YES 60

0 20 40 60 80

Interpretation

The Table Figure shows that out of 100 respondents, 60% respondents
are satisfied with the interested rates provided by IPPB and 40%
respondents are unsatisfied with the interest rate provided by IPPB. The
majority of the people are satisfied with the interest rate provided.

58
 CUSTOMER S AWARENESS ABOUT
INVESTMENT SCHEMES PROVIDED
BY INDIA POST PAYMENT BANK
Particular No.of
Respondents
yes 40
no 60
Total 100

40%
yes
60%
no

Interpretation

The Table shows that out of 100 respondents, 40% of the respondents
are aware about the investment schemes provided by IPPB and 60%
are not aware about the investment schemes. The majority of the
respondents are not aware about the investment schemes provided by
IPPB.

59
 DURATION OF HOLDING AN
ACCOUNT WITH IPPB
Particulars No.of Respondents
less then 1 year 10
1 year - 3 years 30
3 years - 5 years 33
Above 5 years 27
total 100

35

30

25

20

15

10

0
less then 1 year 1 year - 3 years 3 years - 5 years Above 5 years

Interpretation
The Table shows that out of 100 respondents, 10% belongs to category
Less than 1 Year, 30% belongs to category 1 Year - 3 Years, 33.3%
belongs to category 3 Years - 5 Years and 27% belongs to category
More than 5 Years. Majority of the respondents belong to category 3
Years - 5 Years.

60
 What are your thoughts about ippb mobile
app?
Particulars no.of
Respondent
very good 40
good 10
average 40
poor 10
total 100

no.of Respondent

10%
very good
40% good

40% average
poor
10%

Interpretation:
The Table shows that out of 100 Respondents, 40 respondents find the
Very good use in app, 40 respondents find their app is good in average,
10 respondents find their app and 10 respondent opted for poor. The
majority of the respondents feels are their good and good in average.

61
 What are the features you familiar with in
ippb app?
Particulars No.of
Respondent
money transfer 60
Direct Benefits Transfers 20
Third party Products 5
Bills and utility 15
total 100

No.of Respondent

15%

5% money transfer
Direct Benefits Transfers
Third party Products
20% 60%
Bills and utility

Interpretation
The table show that out of 100 Respondents, money transfer use 60%
of respondent, DBT is uses by 20, bills and utility use 15% of
respondent and very less is third party product use

62
 SERVICES PREFERRED BY
CUSTOMERS FROM INDIA POST
PAYMENT BANK
Particulars No.of Respondents
Postal Related 37
Financial Related 36
both 27
total 100

37 36
27

POSTAL RELATED FINANCIAL BOTH

RELATED

Interpretation
The Table shows that out of 100 respondents, 37% are satisfied with
Postal Services, 36.% are satisfied with Financial Services and 267%
are satisfied with both Financial and Postal Services. The majority of
the respondents use both Postal and Financial services provided by
IPPB.

63
 Would you like to do banking with IPPB
bank in near future
particular No.of Respondent
yes 70
no 30
total 100

yes no

Interpretation
From the response collected from 100 respondent it can be observed
that 70% people are like IPPB bank in near future and there are still
20% of the people don't like TO take financial product of IPPB bank.

64
Chapter 7

65
 Fact and Findings
 On the basis of gender, 56% were composed of male, 43% female
and 1% others. It can be inferred that majority of the respondents
are male, compared to 43 females and 1others, in a total of 100.
 On the basis of age, out of 100 respondents, 37% of respondents
fall under the age of 0-25, 42% of the respondents fall under the
age group below 25, 14% of the respondents fall under the age
group of 50-60 and 7% of the respondents fall under the age group
above 60. The majority respondents are of the age between 25 and
50.
 On the basis of occupational status out of 100 respondents, 8% of
respondents are agriculturist, 23% of the respondents are in the
business and professional field, 21% of the respondents are
salaries class and 48% of the respondents are students and others.
The majority respondents are students and others (home maker,
etc.).
 On the basis of IPPB account holders, out of 100 respondents,
30 % of the respondents are India Post Payments Bank
Accountholders and 70% of the respondents are Non-Account
Holders. It can be inferred that the majority are Non Account
Holders.
 On the basis of awareness about IPPB, out of 70 respondents,
30% of the respondents are aware about India Post Payments
Bank services and 70 % of ’ 100 the respondents are not aware
66
 about the service. It can be inferred that majority of the
respondents are not aware about the service.
 On the basis of year of account holding, out of 30 respondents
10% belongs to category Less than 1 Year, 30% belongs to
category 1 Year – 3 Years, 33.3% belongs to category 3 Years –
5 Years and 26.7% belongs to category More than 5 Years.
Majority of the respondents belong to category 3 Years – 5 Years.
 On the basis of ippb uses , 40 respondents find the Very good use
in app, 40 respondents find their app is good in average, 10
respondents find their app and 10 respondent opted for poor. The
majority of the respondents feels are their good and good in
average.
 On the basis of type of account holders, in which33.3% are users
of Savings Account category, 20% are users of Recurring
Account category, 26.7% are ’ 55 users of Term Deposit Account
category, 13.3% are users of Public Provident Fund Account
category, 6.7% are users of Kisan Vikas Patra category and 3%
are users of other accounts. The majority of the respondents are
holders of Savings Account.
 On the basis of satisfaction out of 100 respondents, 36% are
satisfied with Postal Services, 36% are satisfied with Financial
Services and 27% are satisfied with both Financial and Postal
Services. The majority of the respondents use both Postal and
Financial services provided by IPPB.

67
 On the basis of satisfaction of interest rate, out of 100
respondents, 60% respondents are satisfied with the interested
rates provided by IPPB and 40% respondents are unsatisfied with
the interest rate provided by IPPB. The majority of the people are
satisfied with the interest rate provided.
 On the basis of sources of awareness of financial services of
IPPB, out of 100 responds, 33% of the respondents have been
aware of IPPB through the help ’ 56 of advertisements, 37 % of
the respondents got awareness through friends and families and
30% of the respondents got awareness from agents of IPPB.
Majority of the respondents got the awareness through friends
and families.
 On the basis of staff’s approach towards customers, out of 100
Respondents, 5 respondents find the staffs are friendly, 17
respondents find their staffs that they respond late, 7 respondents
find their staffs give an indifferent approach and 1 respondent
opted for others. The majority of the respondents feels are their
staffs respond late.
 On the basis of customers opinion, out of 100 Respondents, 80%
of the respondents would suggest others to start an account and
20% of the respondents would not encourage others to start an
account. The majority of the account holders are interested to
suggest others to start an account with India Post.
 On the basis of satisfaction of services, out of 100 respondents 22
respondents gives a positive answer (yes) and 8 respondents gives

68
 a negative answer (no). Majority of the account holders are happy
with the service provided by India Post.
 In urban areas most of the people will like to do banking with
ippb in near future

69
Chapter 8

70
 LIMITATION OF THE STUDY

The proposed study is confined to the following

limitations:-

1. The data collected are based on the questionnaire and the

results of the study would be varying according to the opinions of
individuals.

2. The result of the study is based upon the information given by

the respondents.

3. The study is confined to customers of India post offices in

Varanasi district, Uttar Pradesh, India.

4. The statistical tools used to analyze the data have their own
limitation.

71
Chapter 9

72
 Suggestions

Given the statistically significant relationships established between

awareness, usage level, and customer satisfaction with India Post
Payments Bank (IPPB) services, the following recommendations are
made

1.Enhance Awareness Campaigns:

Targeted Marketing:

The strong positive relationship between awareness and usage level of IPPB
services suggests that increasing public awareness can directly lead to greater
usage. Targeted marketing strategies can be employed to reach specific
demographics.

Collaboration with Local Government and Institutions:

Given that awareness significantly influences usage and satisfaction, partnerships
with local government and educational institutions can be an effective way to
disseminate information about IPPB services.

Improve User Interface and Customer On-boarding:

User-Friendly Design:
Since there is a moderately strong positive relationship between the usage level
of IPPB and satisfaction with its services (.58 standardized estimate), the IPPB
could focus on making their services more user-friendly to improve customer
satisfaction

73
Streamlined On-boarding:
Given the above relationships, simplifying the onboarding process can encourage
more users to avail themselves of IPPB services, subsequently increasing
satisfaction levels.

2.Customer Satisfaction:
Feedback Loops:

There is a positive but weaker relationship between awareness and satisfaction

(.28 standardized estimate), suggesting that while increasing awareness is
beneficial, it alone may not suffice in enhancing satisfaction. Implementing
feedback loops where customers can easily provide suggestions for
improvements can be a valuable strategy.

Frequent Surveys:
Regular customer surveys can be conducted to gauge the level of satisfaction and
to determine areas for improvement. These should focus on the factors that
are shown to have the greatest impact on customer satisfaction, such as
service quality and convenience.

Improve Customer Support:

To strengthen the moderately strong positive correlation between usage level
and satisfaction, IPPB can focus on customer support services. This would
include quicker response times, multiple channels of communication, and
highly trained support staff.

74
3.Monitor and Update:

KPI Tracking:
Key Performance Indicators (KPIs) should be established and regularly
monitored to ensure that the strategies for increasing awareness and usage levels
are effective in improving customer satisfaction.

Iterative Process:
The strategies should be updated periodically based on real-world data and the
changing needs and preferences of the customers.By implementing these
recommendations, IPPB can potentially elevate both usage levels and customer
satisfaction, thereby fulfilling its mandate of financial inclusivity more
effectively

75
Chapter 10

76
 Conclusion
The study presents a comprehensive analysis of the relationships
between awareness, usage level, and customer satisfaction
concerning India Post Payments Bank (IPPB) services. Utilizing
robust statistical methods, the study validates the following key
findings:
There exists a strong positive relationship between awareness
towards IPPB services and the usage level of these services,
highlighting the critical role of public awareness campaigns in boosting
service engagement.
A positive, albeit weaker, relationship between awareness and
satisfaction with IPPB services indicates that while awareness
campaigns are beneficial, they should be complemented by additional
efforts aimed at improving the overall service experience.
The moderately strong positive relationship between the usage
level of IPPB and customer satisfaction calls for concerted efforts
in enhancing the user interface, customer onboarding process, and
service quality.
In light of these findings, specific recommendations were
formulated, addressing multiple aspects from targeted marketing and
collaboration with local stakeholders to user experience and customer
feedback loops. These strategies aim to elevate both the awareness and
usage levels of IPPB services, and in turn, enhance customer

77
satisfaction. As IPPB aims to serve as an accessible, affordable,
and trustworthy banking option for the common man, it is
imperative to continually align its services with customer
expectations. The findings and recommendations of this study offer
valuable insights into achieving this alignment, thereby contributing
to the broader vision of financial inclusion and digital
empowerment in India. Through iterative evaluation and strategy
refinement, IPPB has the opportunity to actualize its motto -every
customer is important, every transaction is significant, and every
deposit is valuable

India Post Payments Bank should take significant efforts in selecting,

training and motivating the staff members to perform to the satisfaction
of customers and also continuously monitor and take feedbacks from
them. Counter staff members should be trained properly for dealing
with the clients or anybody in general and should be able to handle their
queries and problems effectively.

78
Chapter 11

79
Appendices

1. Name

2. Gender
Female Male Other

3. Age
Upto 30 years 31 - 40 years 41 - 50 years 51 - 60 years

4. Marital status
Married unmarried

5. Occupation
Job Business Student Other

6. Which company's plan do you have or would you like to have?

INVESTOSURE PVT.LTD life insurance

LIC
Bajaj Allianz life insurance
ICICI Prudential
SBI life insurance
HDFC Standard
other

80
7.Do you think that these companies provide promised services as per the set
schedule?
Strongly agree
Agree
Neither agree or nor disagree

8. Do you have an account in India Post Payment Bank?

Yes No

9. Are you aware about all the investment schemes that are provided by India
Post Payment Bank?
Yes No

10. For how many years do you have an account in India Post Payment Bank?
Less than 1 year 1 year – 3 years 3 years – 5 years More than 5
years

11. What type of account do you have in India Post Payment Bank?
Savings Account Recurring Account Term Deposit Account
Public Provident Fund Account Kisan Vikas Patra Others

12. Which services are mostly preferred by you in India Post?

Postal Related Financial Related Both

13. Are you satisfied with the interest rate provided by India Post Payment Bank?
Yes No

81
14. What are the sources of awareness regarding financial services in India Post
Payment Bank?
Advertisement Agents Friends, relatives others

15. How does the Postal Department staffs respond to their customers?
Friendly Immediate Approach Indifferent Approach Any
other

16. Would you suggest someone to start an account with India Post Payment Bank
Account?
Yes No

17. What are the features you familiar with in ippb app?
Money Transfer
Direct Benefits Transfers
Third party Products
Bills and utility

18.Would you like to do banking with IPPB Bank in near future?

Yes No

82
Chapter 12

83
 Bibliography

 Bansal, N. (2023). The impact of customer's awareness level on the

sustainability of payment banks in India.International Journal of Public Sector
Performance Management,11(4), 435-450.

 5.Das, D., Kumar, K., &Mahapatra, R. (2020). Customer Perception Towards

Payment Bank: A Case Study of Cuttack City.International Journal of
Management,10(4), 2019.

 Kabia, A., & Agarwal, S. Benefits And Key Challenges In Practicing In

Financial Inclusion-A Study Of Indian Post Payment Banks In Bundelkhand
Region.

 Mehta, D. (2020). Payment Banks: Digital Revolution in Indian Banking

System.Mehta, N., & Shah, S.(2020). Payment Banks: Digital Revolution in
Indian Banking System. International Journal of Management and Humanities
(IJMH). ISSN, 2394-0913.

 Mondal, D. (2022). Impact of Payment Bank in Financial Inclusion: A Case Study

of India Post Payment Bank.Management Journal for Advanced Research,2(6), 24-
31.

 Thomas, C. E., Manilal, C., Venugopal, D., Dhilan, D., & George, D. S.
(2021). A Study On Public Awareness And Customer Satisfaction Of India Post
Payment Bank.

84
Chapter 13

85
 References

 https://ippbonline.com/web/ippb/corporate-office

 https://en.wikipedia.org/wiki/India_Post_Payments_Bank#:~:text=In
dia%20Post%20Payments%20Bank%2C%20abbreviated,of%20the
%20Government%20of%20India.

 https://www.propulsiontechjournal.com/index.php/journal/article/vie
w/559/415

 https://doi.org/10.52783/tjjpt.v44.i3.559

 https://ippbonline.com/web/ippb/about-us1

86
87