Coming soon: Post Bank of India
New Delhi: The government is likely to earmark Rs. 1,300 crore for the India Post to enable it to make foray into the banking space. "The expenditure finance commission will meet this month and finalise the fund to be provided to India Post for the proposed Post Bank of India," a finance ministry official told PTI.
The Department of Post, which has applied to the Reserve Bank for a new bank licence, had last month approached the finance ministry for sanctions of Rs. 1,300 crore for its banking foray and to meet the capital requirements. The Department of Post (DoP) plans to launch banking operations from its 50 branches in the first year and scale it to a total of 150 branches in 5 years. The amount would include Rs. 500 crore paid-up capital required under new banking licence guidelines.
India Post, which has over 1.54 lakh post offices across the country, would be using its existing network to provide banking services and bring in financial inclusion. Of the 1.54 lakh, over 1.39 lakh branches are in rural areas and 15,736 are in urban regions.
There are around 90,000 bank branches in the country and provision of real-time banking services through postal network is estimated to triple the current banking network.
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 62989
Date 23-02-14 1:43
Tooltip Information:AAP's alliance with Cong. a suicide: BJPVideo by:Description: BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.Rating: 3.4Views: 62989
Date 23-09-14 11:38
Tooltip Information:South Asia Newsline - 23 September 2014Video by:Description: Jubilant supporters of presidential designate, Ashraf Ghani Ahmadzai took to the streets of Afghanistan as soon as the news came out about the agreement that would allow him to be the next president. Residents of capital Kabul said the new national government can take the country forward to a better future. The months long uncertainty ended on Sunday after Ghani and his rival Abdullah Abdullah entered into a deal, allowing the Election Commission to announce the results. According to the new arrangment, Ghani will be the President of the country while Abdullah will be holding the office of the Chief Executive Officer, with powers similar to Prime Minister. Outgoing Afghan President Hamid Karzai who was also present at the occasion expressed satisfaction over the deal.Rating: 5Views: 874
Date 15-09-14 1:06
Tooltip Information:Swedish PM Fredrik Reinfeldt to resign after losing to Left oppositionVideo by:Description: Sweden, Sep 15 (ANI): Swedish Prime Minister Fredrik Reinfeldt concedes his defeat after opposition center-left alliance, led by the Social Democratic Party, beat the incumbent center-right government in the 2014 parliamentary election. Reinfeldt is to resign on Monday after the defeat. He also told supporters in Stockholm late yesterday that he will also step down as leader of the conservative Moderate Party next year. According to Swedish Parliament website, the final election results are expected to come out on September 20 and the newly elected parliament will convene on September 29.Rating: 4.5Views: 566
Date 13-09-14 2:39
Tooltip Information:Bypolls: Voting begins for 3 Lok Sabha, 33 Assembly seatsVideo by:Description: Lucknow/ Moradabad/ Kolkatta/ Vadodra, Sept 13 (ANI): Polling for three Lok Sabha and 33 Assembly seats is currently underway across 10 states with the results crucial for both the ruling BJP-led NDA government as well as the opposition parties who are yet to recover from the massive defeat in the 2014 Lok Sabha elections. Voters began to queue up on Saturday at polling stations for the by-poll in Uttar Pradesh's one Lok Sabha and 11 assembly constituencies. Samajwadi Party and the Bharatiya Janata Party (BJP) are the main contenders in most of the assembly seats and the lone Lok Sabha seat.Voting is also underway for the Chowringhee and Basirhat (South) assembly constituencies in West Bengal.Voting for the Antagarh assembly constituency in Chhattisgarh also began today.Polling for Gujarat's one Lok Sabha and nine assembly by-polls is underway too.The Vadodara Lok Sabha seat was vacated by Prime Minister Narendra Modi after he was elected to the parliament from two places, including Varanasi in Uttar Pradesh.Voters queue up in Telangana too for polling.Rating: 4Views: 423
Date 1 hr ago 6:51
Tooltip Information:Politicos react on Obama-Modi joint editorialVideo by:Description: New Delhi, Sept 30 (ANI): Politicos on Tuesday stated that they would wait for Prime Minister Narendra Modi to explain if there were any substantial agreement between the India and America after a joint editorial was issued by Barack Obama and Narendra Modi on Tuesday. The joint editorial by Modi and Obama spoke of a renewed Indo-US partnership in the 21st century. It also said that the true potential of the ties was yet to be fully realized and the new government in India was a natural opportunity to broaden and deepen the ties.Rating: 4Views: 34
Date 1 hr ago 1:21
Tooltip Information:Haryana CM slams BJP for not declaring CM candidate in upcoming pollsVideo by:Description: New Delhi, Sep 30 (ANI): Haryana Chief Minister Bhupinder Singh Hooda on Tuesday slammed BJP for not declaring the name of its CM candidate in the upcoming assembly elections in the state. He said that BJP doesn't have any candidate who is suitable for the post of Chief Minister and the party is misleading public by making false promises. Hooda added that every election is a challenge and that he is confident that Congress will win elections for the third time in Haryana. Reacting over Amit Shah's statement that he had made in an election rally in Haryana earlier in the day, Hooda said that Shah should first look into his past and then see where he has reached.Rating: 4Views: 10