For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Govt To Launch Postal Payments Bank In Sept: Reports

By Religare
|

Union Minister Ravishankar Prasad has said that the Government plans to launch Postal Payments Bank in September with the aim to make it the world's largest bank.

Govt To Launch Postal Payments Bank In Sept: Reports
Commenting on the issue, the Union Telecommunication and IT Minister told the media, "I had plans to launch the proposed Postal Payments Bank, which can be described as moving ATM, in next three years but when the proposal was taken up in the cabinet, I was asked to introduce it by September 17."
 

"The minister said the officials of the department have been directed to initiate necessary steps to launch it by September 16/17. The proposed bank will be introduced in 650 districts across the country, he said, "we have plans to introduce in 1.30 lakh post offices in the rural belts", he added.

The Postal Payments Bank will provide banking services, insurance, third party delivery, collection of EMIs in rural pockets, he said, adding that the officials are being trained like professionals to make it a success.

Read more about: payment banks
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more