Who presented the Digital Payments Award 2024-25 to India Post Payments Bank for its efforts in digital inclusion?
Show answer & explanation
Correct answer: A
Explanation
Answer: Smt. Nirmala Sitharaman and Shri Pankaj Chaudhary.
Explanation —
India Post Payments Bank (IPPB) was honored with the 'Digital Payments Award 2024-25' in June 2025 for its outstanding contribution to digital inclusion. This award was presented at a ceremony organized by the Department of Financial Services (DFS), Ministry of Finance, in New Delhi. Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, and Minister of State for Finance, Shri Pankaj Chaudhary, presented this honor to the Managing Director and CEO of IPPB. IPPB secured the first position in the 'Payments Banks' category within the performance index for the financial year 2024-25. The bank is empowering the 'Digital India' mission by providing "Doorstep Banking" services to the country's remote regions through its vast network of post offices and postmen.
Additional Points —
Establishment: IPPB was launched on September 1, 2018, and is a 100% government-owned entity operating under the Ministry of Communications.
Achievement: Currently, IPPB offers services in 13 languages and has a reach of over 110 million customers.
Potential Exam Questions and Answers
Question: Under the administrative control of which ministry does India Post Payments Bank (IPPB) operate?
Answer: Ministry of Communications (Department of Posts).
Question: Who secured the first position in the 'Payments Banks' category at the Digital Payments Awards 2024-25?
Answer: India Post Payments Bank.