India Post to Launch Payment Bank by March 2017: Prasad

Published: 29th December 2015 09:38 AM  |   Last Updated: 29th December 2015 09:38 AM   |  A+A-


NEW DELHI: March 2017 will see the launch of India Post’s payment bank.

Inaugurating the Good Governance Week Celebration here, Communication and IT Minister Ravi Shankar Prasad said 40 international financial conglomerates, including World Bank and Barclays, have shown interest to partner with Postal Department for the payment bank.

The Reserve Bank of India had granted in-principle approval to 11 applicants, including Postal Department, in August to set up payments banks.


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