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India Post to open payments bank
Highlights
India Post, which already offers limited financial services through its 154,800 post offices, is also becoming a payments bank with 650 dedicated branches involving an investment of Rs 800 crore, officials said on Wednesday.
New Delhi: India Post, which already offers limited financial services through its 154,800 post offices, is also becoming a payments bank with 650 dedicated branches involving an investment of Rs 800 crore, officials said on Wednesday.
A meeting of the cabinet, presided over by Prime Minister Narendra Modi, gave its approval to the proposal, following an in-principle approval by the Reserve Bank of India earlier.
Source: IANS
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