NEW DELHI: India Post, the world's largest mail delivery
network, is carving out a separate vertical to manage banking services, a move
that will help it win RBI nod for interoperability of its ATMs with those of
PSU banks.
India Posts, which had last year won a licence to operate a payment bank, has not been able to move much on starting operations.
"We wanted interoperability of the ATMs of Post Offices with other banks. RBI said we can allow it only if Post offices ..
India Posts, which had last year won a licence to operate a payment bank, has not been able to move much on starting operations.
"We wanted interoperability of the ATMs of Post Offices with other banks. RBI said we can allow it only if Post offices ..
DoP has 28,000 departmental post offices and 1.50 lakh rural
post offices across the country.
The Postal Department is proactively setting up ATMs and micro ATMs in its rural post offices so as to tap its wide network for financial inclusion.
"RBI said this separate vertical of the Postal department is open for banking regulation. The RBI is favourably considering the option to provide interoperability," the official said.
"This will help in moving towards ..
The Postal Department is proactively setting up ATMs and micro ATMs in its rural post offices so as to tap its wide network for financial inclusion.
"RBI said this separate vertical of the Postal department is open for banking regulation. The RBI is favourably considering the option to provide interoperability," the official said.
"This will help in moving towards ..
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