{"id":12203,"date":"2016-06-04T12:28:52","date_gmt":"2016-06-04T12:28:52","guid":{"rendered":"https:\/\/www.edristi.in\/?p=12203"},"modified":"2016-06-04T12:28:52","modified_gmt":"2016-06-04T12:28:52","slug":"cabinet-approves-setting-india-post-payments-bank","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/cabinet-approves-setting-india-post-payments-bank\/","title":{"rendered":"Cabinet approves setting up of India Post Payments Bank"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Question: With what percent Government of India\u2019s (GOI) equity recently the Union Cabinet has given its approval for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts?<\/strong><br \/>\n(a) 80%<br \/>\n(b) 75%<br \/>\n(c) 51%<br \/>\n(d) 100%<br \/>\n<strong>Ans: (d)<\/strong><br \/>\n<strong>Related facts:<\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li>On 1 June 2016 the Union Cabinet has given its approval for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts, with 100% Government of India (GOI) equity.<\/li>\n<li>The total expenditure involved in this project is Rs 800 Crore.<\/li>\n<li>All citizens, especially 40% of the country&#8217;s population that is outside the ambit of formal banking in the country will benefit from this project.<\/li>\n<li>The project will be rolled out in the entire country in a phased manner.<\/li>\n<li>The IPPB will obtain banking licence from RBI by March 2017 .<\/li>\n<li>By September 2017, its services will be available across the country through 650 payments bank branches.<\/li>\n<li>These branches, linked post offices and alternative channels riding on modern technology including mobiles, ATMs, PoS\/ m-PoS devices etc and simple digital payments.<\/li>\n<li>Setting-up of the IPPB to further financial inclusion was one of the budgetary announcements during 2015-16.<\/li>\n<li>The Department of Posts had obtained the &#8220;in-principle approval&#8221; of the RBI in September 2015 to set up the India Post Payments Bank.<\/li>\n<\/ul>\n<p style=\"text-align: justify\">\n<strong>Reference:<\/strong><br \/>\n<a href=\"http:\/\/pib.nic.in\/newsite\/PrintRelease.aspx?relid=145892\" target=\"_blank\">http:\/\/pib.nic.in\/newsite\/PrintRelease.aspx?relid=145892<\/a><br \/>\n<a href=\"http:\/\/ddinews.gov.in\/Home%20-%20Headlines\/Pages\/IndiaPostpaymentbank.aspx\" target=\"_blank\">http:\/\/ddinews.gov.in\/Home%20-%20Headlines\/Pages\/IndiaPostpaymentbank.aspx<\/a><br \/>\n<a href=\"http:\/\/www.thehindu.com\/business\/Industry\/india-posts-payments-bank-gets-cabinet-nod\/article8678026.ece\" target=\"_blank\">http:\/\/www.thehindu.com\/business\/Industry\/india-posts-payments-bank-gets-cabinet-nod\/article8678026.ece<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: With what percent Government of India\u2019s (GOI) equity recently the Union Cabinet has given its approval for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts? (a) 80% (b) 75% (c) 51% (d) 100% Ans: (d) Related facts: On 1 June 2016 the Union Cabinet [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[2338],"class_list":["post-12203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enew","tag-economics"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/12203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=12203"}],"version-history":[{"count":0,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/12203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/12154"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=12203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=12203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=12203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}