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Tuesday, October 6, 2015

India Post looking to tie-up with BSNL for Payments Bank venture



India Post is exploring the possibility of a partnership with state-run telecom major BSNL for using its mobile platform to offer Payments Bank services.
For providing physical banking services under Payments Bank, it will use its over 1.5 lakh post offices spread across the country. "We will explore every platform for our Payments bank venture. The discussion with BSNL is in preliminary stages, we looking at the feasibility of this tie-up and prospective revenue streams," a senior official from India Post told Business Standard.
Besides, it has already moved a note for Public Investment Board (PIB) for an investment of Rs 300 crore for Payments Bank foray, which is likely to come up for approval this month only. After PIB, an approval will be sought from the Cabinet.