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India Post Payment Bank
April 21 , 2018
2281 days
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- In India, the Post Office Payment Bank has started its services from April 2018.
- It will be known as India Post Payment Bank and it will be the largest payment bank network in the country.
- There are 1.55 lakh post offices in the country, in which 650 payment banks will assist these post offices.
- Under this, postman and rural post offices will deliver digital payment service in urban and rural areas.
- In the year 2015, the RBI gave the Indian Post the theoretical approval for working as a payment bank. This bank was conceived by former Governor Raghuram Rajan of the RBI.
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