More than 2 dozen companies want collaboration with India
Post Payments Bank-Manoj Sinha
Government
has said that there are many companies who have approached
the
Department of Posts for collaboration with India Post Payments
Bank.
Replying to a question in the Rajya Sabha, the Minister of
Communications Shri Manoj Sinha said that while the Department
is in
various stages of discussions with them, decision on formal
partnerships
will be taken after carefully evaluating the entire value
proposition
that they propose for the common man. The India Post Payments
Bank had
launched its two branches in Raipur (Chhattisgarh) and Ranchi
(Jharkhand) on 30/01/2017 with basic products and banking
services in
partnership with Punjab National Bank.
Shri Sinha also said that
the Payments Banks are different from regular Banks in the
following
fundamental ways as per RBI guidelines for Licensing of
Payments Banks:
(i)
Payment Banks are not allowed to undertake lending activities
directly.
It can accept demand deposits only that is savings and
current accounts
and will initially be restricted to holding a maximum balance
of Rs.
100,000(Rupees one lakh only) per individual customer.
(ii) Payment Banks cannot accept Non Resident Indian (NRI)
deposits.
(iii) The Payment Banks cannot set up subsidiaries to
undertake non banking financial services activities.
A list of companies interested in partnering with India Post
Payments Bank is attached at Annexure A.
| List companies keen to partner with
India Post Payments Bank. |
| 1 | YES Bank |
| 2 | Union Bank |
| 3 | Punjab National Bank |
| 4 | IDBI Bank (Industrial
Development Bank of India) |
| 5 | SBI (State Bank of India) |
| 6 | Axis |
| 7 | Bank of Baroda |
| 8 | IDFC Bank (Industrial development finance
company) |
| 9 | Deutshe Bank |
| 10 | Barclays Bank |
| 11 | Citibank |
| 12 | NABARD (National Bank For Agriculture &
Rural Development) |
| 13 | HSBC (Hongkong and Shanghai Banking
Corporation) |
| 14 | MICRO SAVE |
| 15 | Allahabad Bank |
| 16 | Indian Overseas Bank |
| 17 | Dena Bank |
| 18 | FIA (Financial Inclusion) |
| 19 | Kotak Mahindra Bank |
| 20 | United Bank of India |
| 21 | HDFC Life (Housing Development Finance
Corporation) |
| 22 | Royal Sundaram |
| 23 | PNB Metlife (Punjab National Bank) |
| 24 | ICICI Lombard ( Industrial Credit and
Investment Corporation of India Bank) |
| 25 | ICICI Prudential ( Industrial Credit and
Investment Corporation of India Bank) |
| 26 | Bajaj Allianz Life |
PIB
