New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process. Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
According to the Reserve Bank of
India (RBI) data, about 60% of the people of the country are still not
connected with the banking sector. This includes many people who live in rural
areas of India, who have very low income and work in the unorganized sector. In
order to provide financial facilities to such people, the Reserve Bank of India
has started setting up payment banks in different parts of the country under
the policy of financial adjustment.
Meaning of payment bank
Payment bank is a different type of
bank than commercial banks in India. The Reserve Bank of India had issued
guidelines on 24 November 2014 for the establishment of payment banks. Payment
Bank; Meet the general banking needs of the public but with some restrictions;
Like, payment banks will be able to open current and savings accounts of people
but will not be able to give credit cards and loans to people. These banks will
be able to deposit the money of the migrant employees and will also work to
give the amount sent by the migrant workers to the family.
The Narendra Modi government has
launched 'India Post Payments Bank' on September 1, 2018, to connect the poor
with the banking system under the policy of financial adjustment. This bank
will be formed as a public company under the Department of Posts. The
government will have a 100 per cent stake in this bank. The Payments Bank of the
Department of Posts will work through a network of post offices. It will
include 3 lakh postmen and rural post servants.
List of
Payments Banks in India
1. Airtel Payments Bank Limited
2. India Post Payments Bank Limited
3. Fino Payments Bank Limited
4. Paytm Payments Bank Limited
5. Jio Payments Bank Limited
6. NSDL Payments Bank Limited
What facilities will India Post
Payments Bank provide?
India Post Payment Bank Scheme will
be of a smaller scale than other banks. Through this payment bank all the
banking related work except for loan and credit card; You can deposit money in the
bank, send money, money can be taken by someone else and you can also send
money to a relative.
Under this scheme, items purchased
from e-commerce sites will also be delivered to you. People will be able to
shop from e-commerce websites like Flipkart / Amazon. For this, the Department
of Posts has tied up with Amazon. The account holder will get a free ATM or
debit card. Free Indian postal online facility will be available to the account holder. The account holder will get free mobile alert service. Insurance services, mutual
funds, current accounts and other financial services can also be availed
through this. Facilities such as basic banking, direct benefit transfer
payment, payment of various types of bills and depositing tax can be availed
through the bank.
How to get services of India Post
Payment Bank (IPPB)
India Post will use your Aadhaar card
to open a payment bank account. You will get banking services at the post
office counter and also through micro ATM. Apart from this, the postman will
have smartphones and biometric devices to provide service at home. The postal
payment bank will charge 1 paisa for every transaction charge. However, you
will have to pay more to get services at home. By December 2018, 1.55 lakh
access points will be created for these services, out of which 1.30 lakh will
be in rural areas.
Post Office Saving Account
A minimum of Rs 20 is required to
open a savings account with India Post Payment Bank. And if someone opens a
savings account with the facility of cheque, then he has to deposit a minimum of
Rs 500. Savings account holders (without cheque facility) will have to maintain
a minimum amount of Rs 50 per month and Rs 500 with cheque facility. The limit
for depositing money in the payment bank will be one lakh rupees. If you
accumulate more money than this, it will automatically go to the post office
saving account. But normal savings account holders are not required to keep any
minimum balance in the account. But this type of account holder will not get
home delivery of services. A savings account of up to one lakh rupees can be
opened under the payment bank. The payment bank will pay 4.5% interest on deposits
of 25 thousand rupees, 5% interest on deposits of 25 thousand to 50 thousand
rupees and 5.5% interest on deposits of 50 thousand to 1 lakh rupees.
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