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350,000 people to be employed in India Post Payments Bank
Posted on: 04/Jun/2016 12:13:05 PM
350,000 people are to be employed in India Post Payments Bank. The Union Government intends to make banking services available to everyone across the country. The banking operation services will be made possible even in villages through postal payments bank. The department of posts will be setting up payments bank branches by September 2017. The Union Cabinet has cleared a proposal to set up India Post Payments Bank, with a corpus of Rs 800 crore.
Telecom minister Ravi Shankar Prasad met the postal services board for India Post Payments Bank. Speaking about this, he said: As desired by prime minister Narendra Modi efforts are being made to setup India Post Payments Bank during the month of September 2017. 350,000 people will be employed in 650 banks in the first phase.
The minster has asked the department to hire managing director and chief executive of IPPB by August and set up a selection committee for hiring the chief financial officer.
The department of posts has to set up 650 IPPB branches over three years. With the advancement of target, the department of posts will set up 50 branches by March, 125 by April, 200 in May, 300 in June, 400 in July, 525 in August, and 650 by September
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