BANKING SERVICES IN POST OFFICES -- RAJYA SABHA Q & A
GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
DEPARTMENT OF POSTS
RAJYA SABHA
UNSTARRED QUESTION NO.533
TO BE ANSWERED ON 27th FEBRUARY, 2015
BANKING SERVICES IN POST OFFICES
†533. SHRI BHUPENDER YADAV:
Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state:
(a) whether Government proposes to entrust banking related services to the Department of Posts;
(b) whether all post offices in the country would also function as a bank; and
(c) if so, by when this work is likely to be completed?
ANSWER
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)
(a) Yes Sir. The Department of Posts applied to the Reserve Bank of India for issuance of license for setting up of Payments Bank on 30.01.2015.
(b) No Sir. The Government does not propose to convert all post offices in the country to function as a bank. However, Department of Posts applied for license for setting up a Payments Bank on 30.01.2015, which may utilize a part of existing resources /infrastructure of the Department.
(c) Date of completion of the above work will be depended on the decision of the Reserve Bank of India.
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