ug 22, 2015
Govt committed to revive postal department: Communications Minister
Initiatives to be undertaken to Promote PO SB Schemes
Aug 21, 2015
2 nd & 4 th Saturday of every month is declared as Public Holiday for BANKS - Orders of Ministry of Finance
Payments Banks - Plans, Partnerships and goals of each Licensee
The Reserve Bank of India (RBI) on Wednesday gave in-principle approval to 11 entities to open payments banks that will widen the reach of banking services and push the government’s goal of financial inclusion.
The new category of banks, which some experts saidcould prove to be disruptive, will provide basic savings, deposit, payment and remittance services to people without access to the formal banking system.
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Aug 20, 2015
Getting "Payments Bank" Licence is a very proud moment for Postal Department - Minister said
Armed with a payments bank licence now, the postal department should gear up to become a vehicle of financial inclusion in the country, Communications and IT Minister Sri Ravi Shankar Prasad said.
The minister said that the postal department should prepare itself properly and effectively for this opportunity.
The payments bank licence will enable the Department of Post (DoP) to offer banking services to the masses through its vast network of 1,54,000 post offices, of which 1,30,000 are in rural areas.
"This is a very proud moment for the postal department. I have been trying since I became minister to energise and make the vast network of the department for financial digital inclusion and e-commerce activity," Mr Prasad told PTI.
"I am very happy to learn that the postal department has been given a payment banking permission by the RBI. I thank the RBI, governor and his team," Mr Prasad said.
Source : PTI
Source : PTI
India Post, 10 others get RBI approval to set up "Payments Banks"
The Reserve Bank of India (RBI) gave approval 'in principle' for 11 entities on Wednesday to set up payments banks.
They are India Post, Reliance Industries Ltd., Aditya Birla Nuvo, Tech Mahindra, Sun Pharma, National Securities Depository Ltd., Airtel M Commerce Services Ltd., Vodafone m-pesa Ltd., Cholamandalam Distribution Services Ltd., Fino PayTech Ltd. and PayTMs.
(Click on Readmore below to know more on Payments Banks)
(Click on Readmore below to know more on Payments Banks)
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