All India Association of Postmasters & Supervisors

RBI GRANTS "PAYMENT BANK" LICENCE IN PRINCIPLE TO DEPARTMENT OF POSTS(DoP) The Reserve Bank on Wednesday granted ‘in-principle’ approval to 11 entities, including Reliance Industries, Aditya Birla Nuvo, Vodafone and Airtel, to set up payments banks and proposed such licences ‘on tap’ in future. The other entities which have been given ‘in-principle’ approval are Department of Posts, Cholamandalam Distribution Services, Tech Mahindra, National Securities Depository Limited (NSDL), Fino PayTech, Sun Pharma’s Dilip Shantilal Shanghvi and PayTM’s Vijay Shekhar Sharma. “The ‘in-principle’ approval granted will be valid for a period of 18 months, during which time the applicants have to comply with the requirements under the guidelines and fulfil the other conditions as may be stipulated by the Reserve Bank,” RBI said in a statement. Going forward, RBI said the central bank would use the learning from this licensing round to appropriately revise the guidelines and...

REPLY GIVEN BY HON'BLE CABINET MINISTER  OF COMMUNICATIONS & IT IN RAJYA SABHA GOVERNMENT OF INDIA MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY DEPARTMENT OF POSTS      RAJYA SABHA UNSTARRED QUESTION NO.163                                         TO BE ANSWERED ON 24 TH  APRIL, 2015 POSTAL BANKS 163. DR. PRADEEP KUMAR BALMUCHU: Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state: (a)       whether it is a fact that Government is urging the Department of Posts to come up with opening of Postal Banks in the country, if so, the details thereof; (b)       whether the Subramanian Committee, to which the matter had been refe...