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India Post Payments Bank targets 1.55 Lakh outlets by September 2017

In a written response to questions in Parliament by Members of Parliament Pashupati Nath Singh and Ninong Ering, Telecom Minister Manoj Sinha said that the India Post Payments Bank, as of the end of January 2017, was operational only with 8 access points in total, in Raipur (Chhatisgarh) and Ranchi (Jharkhand). The Payments Bank intends to set up access points in post offices in up to 650 districts with linkages to all post offices (around 1.55 lakh of them) across India, by September 2017, "subject to feasibility and fulfillment of regulatory requirements." Remember that AP Singh, interim managing director and CEO of the India Posts Payments Bank had said that it intends to allow sending money from one Aadhaar number to another, and Aadhaar will be made a payment address which can work with or without a bank account linked to…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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

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