Monday, November 2, 2015

20 commercial banks want to tie up with India Post Payments Bank

About 20 commercial banks have initiated talks with the department of posts for a strategic tie-up with its proposed payments bank India Post Payments Bank. 

Department of posts is among the eleven applicants to have received approval from the Reserve Bank of India (RBI) to float a payments bank. The tie-up will involve payments banks sourcing loans for commercial banks, while commercial banks will offer credit cards to customers of payments banks. 

Speaking to ET, PN Ranjit Kumar, PMG Mumbai Region.. 

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