IPPB - Schedule of Charges
Showing posts with label IPPB. Show all posts
Showing posts with label IPPB. Show all posts
Wednesday, April 26, 2017
India Post considers Aadhar-based cashless payment for postal services : Sri.B.V.Sudhakar , Secretary DoP
India Post considers Aadhar-based cashless payment for postal services : Sri.B.V.Sudhakar , Secretary DoP
HYDERABAD: The India Post is examining an Aadhar-based cashless payment mode for postal services to facilitate digital transactions, a senior official said today.
"If you give your credit card, debit card or Aadhar number in a post office, your bank link will come when your Aadhar number is entered," B V Sudhakar, secretary,Department of Posts, told reporters here.
"Suppose, you have to make a registered post with some Rs 50 or Rs 20. That amount will be debited to you and credited to us. You don't have to carry cash. This is being worked out to facilitate digital payments...It will be expanded all over India," he said.
A software has been developed for the purpose by AP Technology Services and successfully tested at the General Post Office in Hyderabad, he said.
"We will test this on a pilot basis in some selected post offices in North, South, East and West (before rolling out)," Sudhakar said.
Department of Posts is examining a proposal to allow installation of ATMs by any bank on the premises of the post offices.
Department of Posts is examining a proposal to allow installation of ATMs by any bank on the premises of the post offices.
"The proposal we are examining is, anybody can come and set up ATMs in the departmental post offices. They should pay us on the basis of transactions. It (the proposal) would be out approximately in one month," he said.
The ATMs can be started in the 4,500 departmental buildings and the India Post Payment Bank (IPPB) is also working on having tie-ups with others, he said.
The IPPB, started with an initial capital of Rs 800 crore, has so far opened two branches at Ranchi and Raipur.
Sudhakar said 650 branches of IPPB would be opened with one being set up in every district by September 2017.
The IPPB would primarily focus on financial inclusion, Direct Benefit Transfer (DBT) and third party products.
The IPPB would emphasise on "door-step banking," he said while expressing hope that the payment bank would be a "game- changer in rural economy."
Noting that the Department of Posts has been aggressively pursuing financial inclusion by encouraging people to open savings accounts in post offices, he said the number of accounts increased from 33.03 crore in 2014-15 to 35.17 crore in 2016-17 upto February 2017.
"Rs 7.02 lakh crore is the outstanding balance in all these (35.17 crore) accounts. It speaks volumes about the efforts being made by India Post in the direction of financial inclusion," he said.
The Department of Posts had a revenue of Rs 13,000 crore and an expenditure of Rs 19,000 crore in 2015-16. The gap in expenditure and revenue is around Rs 6,000 crore.
Observing that the expenditure is expected to rise in 2017 due to the implementation of the Pay Commission, he said the department would be able to make up for the deficit due to the new services.
He said 978 stand-alone ATMs have been installed at different post offices in the country and they have been made inter-operable from December 31, 2016.
India Post has worked with UIDAI to issue Aadhar cards through post offices and the service would commence from June 2017, Sudhakar added.
Monday, April 17, 2017
Appointment of MD & CEO of the India Post Payment Bank (IPPB)
Department of Posts appointed Sri.Mahadevan
Balakrishnan as Managing Director
and Chief Executive Officer for India Post Payment
Bank.
Tuesday, April 11, 2017
Monday, March 27, 2017
More than 2 dozen companies want collaboration with India Post Payments Bank-Manoj Sinha
Government has said that there are many companies who have approached the Department of Posts for collaboration with India Post Payments Bank. Replying to a question in the Rajya Sabha, the Minister of Communications Shri Manoj Sinha said that while the Department is in various stages of discussions with them, decision on formal partnerships will be taken after carefully evaluating the entire value proposition that they propose for the common man. The India Post Payments Bank had launched its two branches in Raipur (Chhattisgarh) and Ranchi (Jharkhand) on 30/01/2017 with basic products and banking services in partnership with Punjab National Bank.
Shri Sinha also said that the Payments Banks are different from regular Banks in the following fundamental ways as per RBI guidelines for Licensing of Payments Banks:
(i) Payment Banks are not allowed to undertake lending activities directly. It can accept demand deposits only that is savings and current accounts and will initially be restricted to holding a maximum balance of Rs. 100,000(Rupees one lakh only) per individual customer.
(ii) Payment Banks cannot accept Non Resident Indian (NRI) deposits.
(iii) The Payment Banks cannot set up subsidiaries to undertake non banking financial services activities.
A list of companies interested in partnering with India Post Payments Bank is attached at Annexure
Annexure A
List companies keen to partner with India Post Payments Bank.
| |
1
|
YES Bank
|
2
|
Union Bank
|
3
|
Punjab National Bank
|
4
|
IDBI Bank (Industrial Development Bank of India)
|
5
|
SBI (State Bank of India)
|
6
|
Axis
|
7
|
Bank of Baroda
|
8
|
IDFC Bank (Industrial development finance company)
|
9
|
Deutshe Bank
|
10
|
Barclays Bank
|
11
|
Citibank
|
12
|
NABARD (National Bank For Agriculture & Rural Development)
|
13
|
HSBC (Hongkong and Shanghai Banking Corporation)
|
14
|
MICRO SAVE
|
15
|
Allahabad Bank
|
16
|
Indian Overseas Bank
|
17
|
Dena Bank
|
18
|
FIA (Financial Inclusion)
|
19
|
Kotak Mahindra Bank
|
20
|
United Bank of India
|
21
|
HDFC Life (Housing Development Finance Corporation)
|
22
|
Royal Sundaram
|
23
|
PNB Metlife (Punjab National Bank)
|
24
|
ICICI Lombard ( Industrial Credit and Investment Corporation of India Bank)
|
25
|
ICICI Prudential ( Industrial Credit and Investment Corporation of India Bank)
|
26
|
Bajaj Allianz Life
|
PIB
Friday, March 24, 2017
DO Letter on IPPB & Role and Responsibilities of DoP under MoU
DO Letter on IPPB & Role and Responsibilities of DoP under MoU
Friday, March 17, 2017
JPGU and FNPO Joint Seminar Programme :Comparative study on India Post Payment Bank and Japan Post Bank
JPGU and FNPO Joint Seminar Programme :Comparative study on India Post Payment Bank and Japan Post Bank.
Saturday, March 11, 2017
Wednesday, March 8, 2017
Post Office Savings Bank Account - Anywhere Anytime
Post Office Savings Bank Account - Anywhere Anytime
For the kind attention of Public!
No worries about Tax on Withdrawals/Deposits/Minimum Balance as in other Banks.
Start using Post Office Savings Banks!
Visit your nearby/neighborhood Post Office today.
- Safety for your money
- Handsome returns
- Attractive schemes
- Easy accessibility.
- Well-knitted Network.
- Customer-friendly Service.
- Well-trained staff.
- Hard-earned reputation.
- Well-known dedication.
- Anywhere banking
- Anytime banking
- ATM card free.
- No hidden cost. Interoperability with other banks ATMs
Start an account today for hassle-free transactions.
Sunday, March 5, 2017
Post Office Savings Bank Account - Anywhere Banking
Post Office Savings Bank Account - Anywhere Banking
For the kind attention of Public!
No worries about Tax on Withdrawals/Deposits/Minimum Balance as in other Banks.
Start using Post Office Savings Banks!
Visit your nearby/neighborhood Post Office today.
- Safety for your money
- Handsome returns
- Attractive schemes
- Easy accessibility.
- Well-knitted Network.
- Customer-friendly Service.
- Well-trained staff.
- Hard-earned reputation.
- Well-known dedication.
- Anywhere banking
- Anytime banking
- ATM card free.
- No hidden cost. Interoperability with other banks ATMs
Start an account today for hassle-free transactions.
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