The Department of Post (DoP) is likely to launch its payments
bank by January 2017 and top management of the new-age venture
would be in-place by July 2017
India Posts will hire personnel from outside as well as deploy some of its existing workforce for the payments bank to be named as India Post Payments Bank (IPPB). “The top management of the IPPB should be in place by July,” Ramanujan said at an event to mark 15 years of partnership with Western Union.
“We (India Post Payments Bank) hope to hit streets by year-end or January 2017,” India Post Member for Banking and HRD, M S Ramanujan told
The DoP, along with 10 other entities, received in-principle approval from RBI to launch payments banks in August 2015 and the approval is valid for a period of 18 months.
India Posts will hire personnel from outside as well as deploy some of its existing workforce for the payments bank to be named as India Post Payments Bank (IPPB). “The top management of the IPPB should be in place by July,” Ramanujan said at an event to mark 15 years of partnership with Western Union.
“We (India Post Payments Bank) hope to hit streets by year-end or January 2017,” India Post Member for Banking and HRD, M S Ramanujan told
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