A report by the government auditor, the Comptroller and Auditor General of India (CAG), has found several problems in India Post Payments Bank (IPPB). According to the report, the bank has been facing many issues in its operations and functioning.
- First, the bank opened some accounts without properly checking customers’ mobile numbers. In some cases, many different customers were linked to the same mobile number, which is a big mistake because each account should have correct and unique details.
- Second, many accounts in the bank are inactive (not being used). This shows that even though the bank opened many accounts, people are not regularly using them.
- Third, the bank’s doorstep banking service (where services are provided at customers’ homes) is not working well. Many requests were delayed, cancelled, or not handled at all.
- Another big problem was with digital payments through UPI. Many transactions failed or were declined, and the number was much higher than the limit set by the Reserve Bank of India (RBI). Also, the system often stopped working for long hours, which is worse compared to other banks.
Overall the report says the bank has issues with proper verification, low customer activity, and payment system problems, which can affect trust and smooth banking services.
The CAG suggested that the bank should correct wrong and duplicate customer information and make the account opening process more careful by properly verifying details. It also advised the bank to improve its technology and systems so that services work smoothly, reduce transaction failures, and provide better service to customers.
