Postal Department To Launch Postal Payment Bank Soon : Ravishankar Prasad

21 June, Kolkata

The Postal Department will launch postal payment bank in the country soon. The Union Cabinet has already cleared the proposal to this effect.

Announcing this in Kolkata Sunday Union Communication and Information Technology Minister, Ravishankar Prasad, said that the bank will become reality with the RBI permission by August this year.

He said that such banks will be set up in each district of the country to provide banking services to small and marginal farmers and other down-trodden people.

Prasad underlined the need for post offices to gear up to meet demand like e- commerce, insurance and aggressive marketing of postal products.

The Communication Minister declared Jambedia village in Bankura district of West Bengal as Sampurna Gramin Dak Jeevan Bima Gram under Rural Postal Insurance Scheme.

Earlier, he inaugurated renovated Bhawanipur post office and international parcel booking centre in Kolkata.