IndiaPost becomes 03rd entity to receive licence to start payment bank operations


IndiaPost has become the third entity to receive a final license last week from the Central Bank (RBI) to start its payment bank operations. Country’s largest telecom service provider Bharti Airtel and digital payments firm Paytm are the other two to have received the license while only Airtel has started operations so far. 

The government has also appointed AP Singh has interim MD and CEO of the India Post Payment Bank. A 1986 Indian Postal Service Officer he was earlier Joint Secretary in the department of disinvestment, the Ministry of Finance and Deputy Director General in charge of financial inclusion and payments systems at Unique Identification Authority of India (UIDAI). Singh was one part of the founding team that launched Aadhaar and was stationed at the department of Post prior to UIDAI. 
Source- The Economic Times

Leave a comment

Your email address will not be published. Required fields are marked *