HDFC Bank ties up with IPPB to serve semi-urban, rural areas

HDFC Bank has tied up with India Post Payments Bank (IPPB) to offer its banking services to the unbanked and underserved segments in semi-urban and rural areas.

A memorandum of understanding was signed between HDFC Bank and IPPB to cater to the majority of over 4.7 crore customer base of IPPB.

About 90 per cent of IPPB customers reside in rural areas, which may benefit from this tie-up.

HDFC Bank said the strategic alliance will enable IPPB to provide affordable and diversified offerings, including access to finance, to its customers through its innovative Doorstep Banking Service.

With nearly 2,00,000 postal service providers (Postmen and Gramin Dak Sevaks) equipped with micro ATMs and biometric devices, IPPB caters to the needs and requirements of various customer segments.

With this partnership, HDFC Bank aims to further strengthen its financial inclusion drive by leveraging the robust and extensive distribution network of IPPB’s 650 branches and over 136,000 banking access points across India, the bank said.

“By bringing banking at the doorsteps of customers, IPPB is steadily transforming and reshaping the financial inclusion landscape across the country.