Govt will revive postal segment and post payment bank is an indication to that: Ravi Shanker Prasad
Updated: Aug 20, 2015 05:06:41pm
New Delhi, Aug 20 (KNN) Government will revive the postal department by using over 1.5 lakh post offices for furthering financial inclusion, said Communications Minister Ravi Shankar Prasad adding that payments bank is a step towards it.
The Reserve Bank of India on Wednesday granted 'in-principle' approval to Postal Department to set up payments bank.
"We have to make all the preparations in 18 months, which we will do. The Modi government is going to revive the postal segment and post payment bank is an indication to that," Prasad told reporters here.
He said that the 1.50 lakh post offices from Kashmir to Kanyakumari will play an important role in financial inclusion.
Prasad said since becoming the Communications Minister, he has tried that postal department should move forward.
"You know in e-commerce, postal department is moving forward, they have done business of about Rs 600 crore in the last 2 months," he said.
The government will soon give handheld devices to all rural post offices, he added.
The payments bank licence will enable the Department of Post (DoP) to offer banking services to the masses through its vast network of 1,54,000 post offices, of which 1,30,000 are in rural areas. (KNN Bureau)
The Reserve Bank of India on Wednesday granted 'in-principle' approval to Postal Department to set up payments bank.
"We have to make all the preparations in 18 months, which we will do. The Modi government is going to revive the postal segment and post payment bank is an indication to that," Prasad told reporters here.
He said that the 1.50 lakh post offices from Kashmir to Kanyakumari will play an important role in financial inclusion.
Prasad said since becoming the Communications Minister, he has tried that postal department should move forward.
"You know in e-commerce, postal department is moving forward, they have done business of about Rs 600 crore in the last 2 months," he said.
The government will soon give handheld devices to all rural post offices, he added.
The payments bank licence will enable the Department of Post (DoP) to offer banking services to the masses through its vast network of 1,54,000 post offices, of which 1,30,000 are in rural areas. (KNN Bureau)
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