December 2016 Current Affairs

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India Post payments bank will be functional by March 17

India Post payments bank will be functional by March 17
24 May 2016 Current Affairs: The Union Minister for  IT & Communications  Ravi Shankar Prasad has announced the  India Post's payments bank will start functioning from March 2017 and serve as a wider platform to implement financial inclusion programmes .

India Post payments bank will have immense potential to sell third party product and services. About 50 companies, including some from abroad, are keen to partner with postal department for the payments bank, like World Bank , Citi from America, Barclay's from England .

The payments bank of postal department will become a big platform of financial inclusion .we are going to invest about Rs 800 crore -- Rs 400 crore will be invested by the department and the remaining amount will be equity part (mobilised as equity) .

Under (Prime Minister) Narendra Modi, we have decided to re-energise the postal department for India's growth and financial inclusion .In August 2015, the RBI had given in-principle approval to 11 entities to start payments bank, including the postal department. 

The approval is valid for 18 months and all the entities are required to submit a detailed business plan after which they shall be given the final nod. 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
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25 AUG
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