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Nearly Three Years On, India Post Payments Bank In Violation Of Key Licensing Provision
RBI had asked India Post Payments Bank to fold in a part of the deposits held by the postal department. Has that happened?
01 Jul 2021, 11:59 AM IST i

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Prime Minister Narendra Modi at the launch of India Posts Payments Bank. (Source: India Post)
"The postman is now a bank in himself," Prime Minister Narendra Modi said at the launch of India Post Payments Bank on Sept. 1, 2018. The launch of the payments bank, to be built on the vast network of the postal department, was one of the Bharatiya Janata Party-led government's pet projects intended to further India's financial inclusion efforts.Ironically, the payments bank, now in its third year, is suffering precisely due to th...

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