(a) whether the Government has identified places to set up branches of India Post Payments Bank (IPPB) in the country including State of Karnataka and if so, the details thereof along with the criteria laid down by the Government for identifying such places; and
(b) the funds allocated/utilised/spent by the Government in this regard?
MINISTER OF COMMUNICATIONS, LAW & JUSTICE AND
ELECTRONICS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)
(a) The India Post Payments Bank (IPPB) has been set up across India with 650 branches which are mostly co-located in district headquarter post office and all Core Banking Solution (CBS) enabled post offices in that district functions both as Department of Posts (DoP) outlet and as an access point for the IPPB. This has been followed in identification of all IPPB branches including the State of Karnataka. The details of India Post Payments Bank branches can be seen at Annexure I.
(b) Total outlay approved by the Central Government for the project of Setting up of India Post Payments Bank is Rs. 1435 crore to be allocated in phased manner. Till date 1200 crore has been allocated to IPPB through Department of Posts (DoP). Rs.800 crores have been utilized by way of equity infusion to IPPB for establishment and operations. Bank has utilized Rs. 361 crores out of Rs. 400 crore Grants-in-Aid till 31.03.2019.