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GOVERNMENT OF INDIA
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MINISTRY OF COMMUNICATIONS
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RAJYA SABHA
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QUESTION NO 1191
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ANSWERED ON 25.11.2016
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Certificate of incorporation to India Post Payments Bank
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1191
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Shri T. Rathinavel
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Will the Minister of COMMUNICATIONS be pleased
to satate :-
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(a) whether it is a fact that India Post Payments Bank has
received the certificate of incorporation, paving the way for the postal
department's bank to begin operations in 2017, as announced;
(b) whether it is also a fact that this will be the first Public Sector
Undertaking under the Department of Posts; and
(c) whether it is also a fact that the Department is expected to roll out
branches across the country by September, 2017, if so, the details thereof?
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ANSWER
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THE MINISTER OF STATE (IC) OF THE MINISTRY OF
COMMUNICATIONS &
MINISTER OF STATE IN THE MINISTRY OF RAILWAYS(SHRI MANOJ SINHA) (a) Yes Sir, India Post Payments Bank has received the certificate of Incorporation.
(b) Yes Sir, it has been incorporated as a Public limited Company on
17/8/2016 with 100% GOI equity under the Department of Posts and has been
registered by Registrar of Companies, Ministry of Corporate Affairs under the
Companies Act 2013. It will be the first Public Sector Undertaking under the
Department of Posts.
(c) Yes Sir, the Cabinet has approved the proposal on 1st June, 2016 with the
direction to complete the proposed roll out of all 650 branches and its
linkage of the post offices by September 2017. Necessary steps for
implementation of the project are being taken as per target set by the
Cabinet.
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...................................... (Associate Member of National Federation of Postal Employees) ......................,................. ......... An organisation born with the ideals of Trade Union democracy and Unity & United struggle for the emancipation of GDS..