Support to India Post Payments Bank (IPPB)

• Jun 27, 2022
• 2 min

MSC supported IPPB in providing financial services to poor and rural communities. MSC planned to undertake a diagnostic study to conduct an institutional assessment for IPPB and provide insights on the current stage of its operations and challenges. At the time of writing, the expected outcomes are an efficient CICO network, suitable product and channel lines at the local level, streamlined G2P and bulk payment processes, and a comprehensive ecosystem of merchants to support customers at the last mile to drive digital transactions.

India Post Payments Bank (IPPB) launched operations throughout the country. MSC supported IPPB in providing financial services to poor and rural communities. While GDS presents a useful channel for outreach, the challenge would be to build its capacity to handle digital technology while offering a range of financial services and managing its existing suite of postal services.

At the time of writing, MSC planned to undertake a diagnostic study to conduct an institutional assessment for IPPB and provide insights on the current stage of its operations and challenges. The MSC team would develop a GDS capacity and planning document and a management framework and enable G2P delivery. We would also develop a program M&E framework, an operational manual, and training of trainers (ToT) material for GDS and conduct the training. Further, we would revise the incentive structure for GDS, design three product roll-out plans, produce a DBT communication strategy document and develop a DBT customer protection and GRM framework.

MSC would also develop an MS Excel-based costing template, manuals for liquidity management and grievance redressal, and a product enhancement plan. We would prepare three marketing strategy documents, produce a merchant acquisition plan, and conduct periodic monitoring. Through MSC’s support, IPPB is expected to achieve four outcomes: an active, efficient, and capable CICO network; suitable product and channel lines using public infrastructure to support customers, specifically women, at the local level; streamlined G2P and bulk payment processes; and a comprehensive ecosystem of merchants to support customers at the last mile to drive digital transactions.