"The
core banking solution (CBS) or digital connectivity of the postal department
has surpassed the State Bank of India's digital connectivity," Prasad said
at a special session on the third day of the ongoing Make in India week here.
There
are over 1.50 lakh post offices across the country, of which 1.25 lakh are in
rural areas, and the department had embarked on CBS connectivity a few years
ago.
The
department is all set to launch a payments bank by March 2017. SBI
Chairman Arundhati Bhattacharya had in the past expressed reservations about
the entry of payments banks.
The
postal department has got in-principle nod to start a payments bank, along with
10 other players, including corporate houses like the Mahindras, the Birlas,
Reliance Industries and telecom firms with a deeper distribution network such
as Bharti Airtel.
The
successful applicants have been given 18 months to start operations. They are
required to present a final plan of operation to the Reserve Bank of India
before final nod.
Speaking
at the special session on IT and electronics, Prasad appealed all to invest
more in the country, saying India will be a USD 1 trillion opportunity for
digital companies in five years.
He
elaborated that electronics will be a USD 350 billion industry while IT,
IT-enabled services and e-commerce would bring in USD 350 billion and USD 250
billion for the communication sector.
The
minister said electronics and IT manufacturing are also crucial for the success
of flagship programmes such as Start-up India and Digital India. He
listed consumer, defence, automobile and medical electronics as the sub-sectors
full with opportunities.
Prasad
sees the target of having 500 million Internet users advancing by one year to
2016-end instead of 2017.
In
the same vein, the minister said he is sensitive to the demand on the skilling
front and added that over 1,200 doctoral candidates in 80 select universities
will be benefiting under a special scheme.
Source:
newindianexpress.com
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