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India Post Payments Bank to Set up 650 Branches by April

March 08, 2018

In a recent written reply to the Lok Sabha, Communications Minister Manoj Sinha said that the government plans to roll out as many as 650 India Post Payments Bank branches by next month.

Sinha said that the work has already begun to set up the branches as 528 managers have been appointed and the establishments are being upgraded with the required technologies and furniture/fixtures.

The Reserve Bank of India had approved the permit for India Post to open its payments branches on January 20, 2017. By January 30, 2017, India Post has already set up 2 branches- one in Ranchi and one in Raipur.

Tags:
Finance

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