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Monday, March 27, 2017

IPPB - List companies keen to partner with India Post Payments Bank -- RS Q & A




GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS
DEPARTMENT OF POSTS    

RAJYA SABHA
UNSTARRED QUESTION NO.2639
TO BE ANSWERED ON 24TH MARCH, 2017

INDIA POST PAYMENTS BANK

2639. SHRI C.M. RAMESH:

Will the Minister of COMMUNICATIONS be pleased to state:

(a)       when was the concept of India Post Payments Bank mooted;

(b)       the reasons for enormous delay in opening up of this Bank;

(c)        the difference between regular bank and India Post Payments Bank; and

(d)       whether it is a fact that there are companies which are keen to partner with India Post Payments Bank, if so, the details thereon?

ANSWER

THE MINISTER OF STATE (IC) OF THE MINISTRY OF COMMUNICATIONS &
 MINISTER OF STATE IN THE MINISTRY OF RAILWAYS
(SHRI MANOJ SINHA)

(a) & (b)          Department of Posts (DoP) applied to Reserve Bank of India (RBI) during January 2015 for setting up India Post Payments Bank (IPPB).  RBI granted in-principle approval to the Department for Setting up Payments Bank on 7th September 2015 with a guideline to set up the bank within 18 months from the date of issue of the approval. Final License authorizing the bank to carry on Payments Bank business has been obtained from the Reserve Bank of India in terms of Section 22 of the Banking Regulation Act, 1949 on 20/01/2017. The India Post Payments Bank has 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.
 (c)    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.
(ii)    Payment Banks 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.
(iii)    Payment Banks cannot accept Non Resident Indian (NRI) deposits.
(iv) The Payment Banks cannot set up subsidiaries to undertake non banking financial services activities.
 (d)      Yes Sir, many companies have approached the Department of Posts for collaboration with India Post Payments Bank. 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. A list of companies interested in partnering with India Post Payments Bank is attached at Annexure A.

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
27
India First Life Insurance
28
Max Life Insurance
29
LIC (Life Insurance Corporation)
30
Transfort, USA
31
Western Union
32
UAE Exchange (United Arab Emirates)
33
Transfast, USA
34
UTI Asset Management (Unit Trust of India)
35
CMS Infosystem (Content Management System.)
36
Reliance Capital Limited
37
Ambay Forex
38
Centre For Digital Financial Inclusion (CDFI)
39
IDRBT (Institute for Development & Research in Banking Technology)
40
NIBM (National Institute of Bank Management)
41
Indian Institute of Corporate Affairs
42
National Stock Exchange
43
Access Assist
44
Muthoot Fin Corp
45
AnG India Ltd
46
Nomura Research Institute
47
Aumentis
48
Randstad
49
IBRT - Institution for Bank Recruitment and Training
50
Shilpi Architects
51
MTNL (Mahanagar Telephone Nigam. Mahanagar Telephone Nigam Limited)
52
Abc Infosystems
53
PFRDA (Pension Fund Regulatory and Development Authority)
54
Visa
55
Methodex Systems
56
iValue infosolutions
57
Inspira
58
Indepay
59
Mindgate Solutions
60
Layered Security
61
Nelito Systems
62
ITI Limited (Indian Telephone Industries Limited)
63
NCR Corporation (National Cash Register)
64
Finacus Solutions
65
BSNL (Bharat Sanchar Nigam Limited)
66
Tata Communication Payment Solutions
67
Mfino
68
Span Technologies
69
AGS Transact Technologies LTD
70
Wipro Ltd
71
Ezeetap
72
Diebold Systems Pvt Ltd
73
Hitachi Payments Services Pvt. Ltd
74
EPS
75
Fiorano software
76
Worldline India Pvt ltd
77
Transaction Analyst
78
Pay e, USA
79
Perpetuuity
80
Edgeverve
81
Obopay
82
Wordline
83
Oberthur
84
Burroughs Inc
85
Intellect Design Arena
86
3i Infotech
87
RS Software
88
Empays
89
Hughes Communication India Ltd
90
Tsys (Total System Services)
91
AKS IT Services
92
Aditya Birla
93
Safeage
94
Tata AIG
95
Crane PI
96
Finsall
97
OKI
98
Agmatel


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