INDIA POST GETS APPROVAL FOR PAYMENT BANK

The Reserve Bank of India has today decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines).

1. Aditya Birla Nuvo Limited
   
2. Airtel M Commerce Services Limited
   
3. Cholamandalam Distribution Services Limited
   
4. Department of Posts
   
5. Fino PayTech Limited
   
6. National Securities Depository Limited
   
7. Reliance Industries Limited
   
8. Shri Dilip Shantilal Shanghvi
   
9. Shri Vijay Shekhar Sharma
   
10. Tech Mahindra Limited
    
11. Vodafone m-pesa Limited
    India post was trying hard to get the payment bank license,as being the largest department with its huge network of post offices,India post was in the battle field of payment bank license,today as the press release of RBI the department has grabbed the opportunity we hope all the best.