Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
August 15, Wednesday 2018 1:27 AM       

       HEADLINES: Journalists assaulted at Jalandhar Bishop's house                                              Allu Arjun donates Rs 25 lakh to flood-ravaged Kerala                                              Rain fury: Schools to reamin closed in several areas                                              UDF MLAs, MPs to donate Rs 10,000 to relief fund                                              Two shutters of Cheruthoni dam closed                                              Monsoon rains, floods claim 776 lives in seven states; highest 187 dead in Kerala                                              Hajipur shelter home: DPO arrested                                              Anti-Sikh riots: Delhi HC to hear victims' appeals against Sajjan Kumar                                              Tributes paid to Karunanidhi at DMK meet                                              Simultaneous election right in theory but not possible now: Nitish Kumar                                              Erdogan says Turkey to 'boycott' US electronic goods                                              Kohli's plea to fans: Never give up on us                                              David Silva bids adieu to International football                                              13 players including Sanju Samsom served show-cause notice                                              Kaumudi Facebook
       BUSINESS Next Article: Fiscal situation should be comfortable next financial year: FM  
       India Post Payments Bank to enable digital payment by April
 
         Posted on :22:12:46 Feb 10, 2018
   
A A
       Last edited on:22:12:46 Feb 10, 2018
         Tags: Post Payments Bank, Digital payment, India
 

NEW DELHI: With the nationwide rollout of the India Post Payments Bank (IPPB) Expansion Programme scheduled to begin in April this year, digital payments in post offices are expected to be enabled around the same time.

The Ministry of Communications, in an official statement claimed that once the proposed expansion is completed, IPPB will be providing the largest financial inclusion network in the country, covering both urban as well as rural hinterland with the ability to provide digital payment services at the doorstep with the help of Postmen and Gramin Dak Sewaks (GDS).

IPPB is also expected to enable more than 17 crore active account-holders of post office savings bank to make interoperable digital payments, including the benefit of NEFT, RTGS, UPI and bill payment services.

Additionally, the IPPB aims to enable acceptance of digital payments across post offices in the country, in line with the digital payments initiative of the government.

Refuting earlier media reports, the ministry said no decision has been taken to revise the timelines.

In November last year, Union Telecom Minister Manoj Sinha claimed that the IPPB is slated to be operational in over 650 locations across the country by April.

Sinha, who was present during the recent launch of the Deen Dayal SPARSH scholarship scheme, had said that while such institutions are already operational in two locations- Ranchi and Raipur-many more such facilities will be made available to the nation, and will be linked to 1.55 lakh rural post offices to carry out banking services.

On a related note, the IPPB currently offers savings account up to a balance of Rs. 1 lakh, along with digitally-enabled payments and remittance services of all kinds between individuals.

In the near future, IPPB is expected to provide current accounts and access to third-party financial services like insurance, mutual funds, pension, credit products, and foreign exchange.

A A
       BUSINESS
Next Article: Fiscal situation should be comfortable next financial year: FM
 
 
BUSINESS HEADLINES
Global Indian Solutions to address $900B NRI assets market in India  
DLF to offer only completed flats; to remove delivery uncertainty  
Adani walks away with gas rights for 21 cities; BPCL bags 11 cities  
India Cements Q1 net profits slips to Rs 21.03 cr  
Microsoft boss Nadella rakes in USD 35 million in share sale  
Odisha likely to put up 18 mines for auction this year: Mukim  
Erdogan says Turkey 'won't lose economic war' after lira crash  
Odisha likely to put up 18 mines for auction this year: Mukim  
US dollar ends sharply higher against rupee  
"Ligne Roset" is all set to cover North Indian market through India's premium furniture brand IOTA  
JP Morgan-CIIE to set up Financial Inclusion Lab  
Adani Power net loss widens to Rs 825 cr in Apr-Jun qtr  
Ola to launch its UK operations with ride-sharing offerings in South Wales, Greater Manchester  
Indra Nooyi to step down as PepsiCo CEO  
Paper Industry aims to rectify misconceptions about paper usage  
Sensex hits record high, Nifty breaches 11,400 mark  
GST slabs may reduce to 3 in long-term: Sanjeev Sanyal  
Lankan govenment reworking MoU on airport deal with India  
Indian carriers need $50 bn to buy planes over 10 yrs: Report  
GST slabs may reduce to three in long-term: Sanjeev Sanyal  
Goibibo now enables users to login via WhatsApp  
Jet Airways slumps 6% in morning trade on bourses  
Indian Bank revises interest rates on FCNR(B) deposits  
Considerable uncertainty around impact of MSP schemes, says RBI  
CAG of India signs 28 UN Audit Reports  
 
Do you think there is pressure on police not to arrest Jalandhar bishop Fr Franco?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy