Indian Govt Plans to Launch Postal Payments Bank By September
Union Minister Ravi Shankar Prasad today said the Centre plans to launch Postal Payments Bank in September with the aim to make it the world's largest bank.
"I had plans to launch the proposed Postal Payments Bank, which can be described as moving ATM, in next three years but when the proposal was taken up in the cabinet, I was asked to introduce it by September 17," the Union Telecommunication and IT Minister said at a Vikas Parv function here.
The minister said the officials of the department have been directed to initiate necessary steps to launch it by September 16/17.
The proposed bank will be introduced in 650 districts across the country, he said, "we have plans to introduce in 1.30 lakh post offices in the rural belts".
The Postal Payments Bank will provide banking services...