IPPB was set up under the Department of Post, with 100% equity owned by the government. The department has now begun discussing how much equity would the Centre divest in the payments bank, people aware of the matter said. IPPB was set up under the Department of Post, with 100% equity owned by the government. The department has now begun discussing how much equity would the Centre divest in the payments bank, people aware of the matter said. Economic Times