India Post Payments Bank received the prestigious Digital Payments Award

Current Context: On 20th June 2025, India Post Payments Bank (IPPB) was conferred the Digital Payments Award 2024–25 by the Department of Financial Services (DFS), Ministry of Finance, in recognition of its outstanding role in advancing digital payments and financial inclusion across India.

Key Highlights:

• Awarded For: Topping the DFS Performance Index among all Payments Banks in FY 2024–25.
• Presented By: Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary in New Delhi.
• Received By: R. Viswesvaran (MD & CEO) and Gursharan Rai Bansal (CGM & CSMO) of IPPB.
• Model: Doorstep banking via 2 lakh+ Postmen and Gramin Dak Sevaks, reaching 11 crore customers in 5.57 lakh villages and towns.
• Tech-Driven: Paperless, cashless, presence-less banking using biometric-enabled smartphones in 13 regional languages.

Question:

Q.1 Which organization awarded India Post Payments Bank (IPPB) the Digital Payments Award 2024–25?
a) Reserve Bank of India (RBI)
b) Department of Financial Services (DFS), Ministry of Finance
c) NITI Aayog
d) Securities and Exchange Board of India (SEBI)

Answer: b) The award was given by the Department of Financial Services (DFS) under the Ministry of Finance.