News 2017

How India Post Payments Bank prepares for a new life from money order to mobile banking

31 May 2017 (ETCIO.com)

India Post, which has almost become extinct to a generation of people in urban India, prepares for a new life under India Post Payments Bank by marrying its almost 1.5L physical branches.
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Post Office to become fully-fledged bank: CEO

26 April 2017 (Business Report)

Plans are underway to remodel the South African Post Office (SAPO) into a fully-fledged bank, chief executive Mark Barnes said on Wednesday. “Let me tell you about where you are and what the future is. We believe that the Post Office will prove to be a critical element in financial inclusion, for a number of reasons.
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Study on for Aadhar-based cashless payment for postal services

24 April 2017 (The Economic Times)

The India Post is examining an Aadhar-based cashless payment mode for postal services to facilitate digital transactions, a senior official said today.
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Over 2 dozen companies want to partner India Post Payments Bank

28 March 2017 (domain-b-com)

More than two dozen companies, including banks and financial institutions, have approached the Department of Posts for collaboration with India Post Payments Bank. Department of Posts is in various stages of collaboration with these companies for a formal partnership, minister of communications Manoj Sinha said.

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60% of Angola’s GDP circulates outside the financial system

23 March 2017 (Macauhub)

More than half of Angola’s population lacks a bank account and it is estimated that 60% of the country’s Gross Domestic Product (GDP) circulates between people without ever going through the financial system, said in Luanda the chair of the Angolan Post Office.

Maria Luisa Andrade, who was speaking at the official opening of Angola’s newest commercial bank, Banco Postal, said: “this is a significant loss to Angolan society, …”

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Money transfer services boost Zimpost earnings

15 March 2017 (Chronicle)

ZIMPOST says local and international money transfer services have helped stabilise the company and boost earnings. Through its Zipcash unit, Zimpost’s customers can send or receive money locally and internationally through the postal network.

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Banking on Aadhaar without bank accounts via IndiaPost payments bank can be a real game-changer

23 February 2017 (The Financial Express)

It appears extremely attractive in the context of the government’s drive to promote digital transactions in a big way that Aadhaar numbers of the people—the total number has touched 112 crore already—will be good enough to pay or receive money, even without a bank account. This is what IndiaPost payments bank is striving to establish as its basic model once it starts operations in the next few months.

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Clash of Russia State Bank Giants Deepens as VTB Arm Hires 7,000

22 February 2017 (Bloomberg)

VTB Group’s re-branded Russian consumer lender will hire 7,000 employees this year in a push into thousands of regional post offices, aiming to supplant Sberbank PJSC as the rival state-owned bank retrenches. Pochta Bank plans to double the number of its branches this year and boost its staff count to 18,000, while attracting cash stashed in Russian “piggy banks” to increase deposits.

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Proposal on postal bank awaits PM’s nod

22 February 2017 (The Daily Star)

The Posts and Telecommunications Division has sought approval from the prime minister to open a postal bank in order to take basic banking services to the remote areas of the country. If the government goes ahead with the proposal already sent to the premier, the postal department will become the country’s largest bank with 9,866 offices across Bangladesh.

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Govt doesn’t want to collapse banking system – Cwele

15 February 2017 (Fin24)

The ANC-led government does not want to collapse South Africa’s banking system, but rather reform it to provide access to previously disadvantaged South Africans, said Siyabonga Cwele, Minister of Telecommunications and Postal Services on Wednesday.

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How India Post Payments Bank Can Be a Game Changer for Financial Inclusion

6 February 2017 (The Better India)

On January 30, 2017, India Post Payments Bank (IPPB) kicked off its operations by rolling out pilot services in Raipur and Ranchi, the capitals of Chhattisgarh and Jharkhand respectively. The second payments bank to start operations after Airtel Payments Bank, IPPB received a licence from the Reserve Bank of India (RBI) on January 20, 2017.

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South Africa’s Post Office to register financial services unit as a bank

31 January 2017 (Reuters/Investing.com)

South Africa’s Post Office Group plans to register its financial services unit as a bank by July 3, a document handed out in parliament showed, a move that would put the company in the middle of a fiercely competitive market.

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India Post Payments Bank will be a game changer for financial inclusion: Manoj Sinha

30 January 2017 (NewKerala.com)

Union Finance Minister Arun Jaitley and Minister of Communications Manoj Sinha launched the operations of the India Post Payments Bank (IPPB) on Monday […]. Speaking on the occasion, Jaitley said that about 650 IPPB branches will be opened by September this year and that will have a multiplier impact as far as banking in India is concerned.

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Government launches India Post Payments Bank

30 January 2017 (News Nation)

The Finance Minister Arun Jaitley launched India Post Payments Bank on Monday. Pilot branches will be opened at Raipur and Ranchi. The bank will be a Public limited company entirely owned by government of India under Department of Posts.

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UK banks and Post Office in landmark agreement

24 January 2017 (FS Tech)

A landmark partnership between the Post Office and UK banks has been hailed as the “biggest expansion in face-to-face banking access in a generation”.

The industry-wide agreement gives 99 per cent of UK personal bank customers and over 75 per cent of business customers the ability to undertake their day-to-day banking at the Post Office.

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Post Office steps in to replace closed bank branches

24 January 2017 (The Telegraph)

Banks have stuck a deal with the Post Office to allow customers access to over-the-counter services at high street sites as a replacement for closed bank branches.

The Post Office’s 11,600 branches will now offer cash, cheque, debit and credit card services to customers of all the main banks and several smaller lenders, covering an estimated 99pc of all personal banking customers and 75pc of business customers.

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