50 companies keen to be associated with postal bank initiative
22/08/2016 00:10
According to media reports, nearly 50 companies including prominent names such as global banking giants World Bank, Deutsche Bank, Swiss Bank and Barclays have shown their willingness to be associated with the government’s postal payments bank initiative. Union Minister for Information Technology (IT) Ravi Shankar Prasad said that the centre is set to start postal payments banking service from September 16, with 1.3 lakh postmen set to be provided hand-held devices, a moving ATM for rendering banking services, insurance, money-order, and a third-party service. The centre in June had given nod to the proposal for the postal payment banks, entailing a corpus of Rs 800 crore. As many as 650 branches of postal payment banks are being planned to be set up. “We will begin postal payments banking service from September 16, wherein 1.3 lakh postmen will be given hand-held devices, a moving ATM to provide banking services, insurance, money-order, as well as third-party service”, Prasad said, the PTI reported. “Some 50 companies, including World Bank, Deutsche Bank, Swiss Bank, Barclays, want to be associated with us,” said the senior BJP leader, the PTI reported. The Union Cabinet in June had cleared the proposal for postal payments banks with a corpus of Rs.800 crore. The proposal is to set up 650 branches of postal payments banks”, he added, the PTI reported.
22/08/2016 00:10
