wordpress blog stats
Connect with us

Hi, what are you looking for?

India Post Payments Bank to be operational by September 2017

The department of posts' payments bank will be called India Post Payments Bank (IPPB). The entity will commence commercial operations by September 2017 and get an approval from the Reserve Bank of India (RBI) by March 2017, the government said in a release. It added that the IPPB will set up 650 payments bank branches. It will be further bolstered by linked post offices and alternative channels. To give context, the largest bank in the country is State Bank of India with over 13,000 branches. The total expenditure on the project is Rs 800 crore with the government owning 100% stake in the entity. In January, as part of its payments bank operations, the department of posts said it would install 1,000 ATMs and a core banking solution at 25,000 post offices by March 2016. Apart from accepting deposits, a payments bank can…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

News

Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ