Centre Allocates Rs. 500 crore to India Post Payments Bank for FY18

Posted on:15 Feb 2017 09:26:34
Centre Allocates Rs. 500 crore to India Post Payments Bank for FY18
15 February 2017 Current Affairs: Government has allocated an amount of Rs 500 crore to India Post Payments Bank for the financial year 2017-18 to help it in setting up 650 branches across country by September 2017.

As per Output-Outcome Framework for Schemes 2017-18 for the Department of Posts released on February 13, 2017, out of the allocated amount, Rs. 125 crore has been allocated as “capital infusion into corporate entity for India Post Payments Bank” and Rs 375 crore as “grant in aid to India Post Payments Bank (IPPB)”.

Besides, Rs 110.83 crore has been allocated for establishing e-commerce, parcel booking, international business centres, Rs 73.5 crore for estates management, Rs 32 crore for mail operations and Rs 17.7 crore for equipments and IT infrastructure in rural post offices.

Apart from this, government has allocated Rs 3.8 crore for setting up 246 offices and 200 outlets for providing better access to communication and financial services.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 July

18 JULY
NEWS
17 JULY
NEWS
16 JULY
NEWS
15 JULY
NEWS

Current Affairs 2018 June

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS

Current Affairs 2018 May

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
28 MAY
NEWS