NEWS & ADVICE : FIXED DEPOSITS
RBI soon launching payment banks
By Neelima Shankar
Jun 13, 2014
Print    Email    RSS   

Last day the apex bank of the country Reserve bank of India stated that RBI soon will come up with the payment banks. RBI governor stated that there is the high potential for financial inclusion therefore RBI has decided to come up with the payment banks. RBI will soon issue the guidelines for it. RBI will issue separate guidelines for the small and medium sized banks. Soon the first payment bank will be launched. Payment bank will offer banking services like opening account, allowing payments and remittances. However, it will not extend loans and invest the deposits in government securities.

It has been also reported that post offices may be granted license to work as the payment banks. The objective of the payment banks is to extend the primary banking services to the hitherto unbanked.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Things to know before retirement
Some Quick Facts about Wealth Tax in India!
Gold ETFs or Gold Funds: Which One Should...
Infrastructure bonds: another tax saving...
An Overview of Wealth Management Services...


Reg deduction of TDS on interest income exceeding...
If a senior citizen invests 10 lacs in Annuity...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive