India Post payments bank will be functional by March 17


Union Communications and Information Technology Minister Ravi Shankar Prasad has stated that the India Post’s payments bank will start functioning from March 2017 and serve as a wider platform to implement financial inclusion programmesHe also stated that postal department plays an important role in the country’s economic and social development and enable modernization of postal services through IT.

Mr. Prasad also said that around 50 companies including foreign banks have shown keen interest to be partners with the bank in a form of third party insurance services. However, the postal department has opened 85.28 lakh accounts with deposit money of rs. 4500 crore under Sukanya Samridhi Yojana during 2015-16 and over 4 lakh policies of Atal Pension Yojana, Prime Minister Jivan Jyoti Bima Yojana and PM Suraksha Beema Yojana. 

So let’s discuss some questions related to this post :
1. As per Union Communications and Information Technology Minister of India, India Post payments bank will start functioning from ?
2. Name the Union Communications and Information Technology Minister of India ?


Courtesy : Economic Times


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