Interview for CEO & MD of India Post Payment Bank on Nov 11

Press Trust of India | New Delhi October 26, 2016

Banks Board Bureau (BBB) will conduct interviews on November 11 for CEO and MD of India Post Payment Bank that plans to begin operation from next year. 

"BBB is scheduled to take interview on November 11," sources said.

The Postal Department has laid the criteria of minimum 15 years of experience in financial services and age between 40 - 55 years for prospective candidates. 

Last year, India Post received in-principle approval from RBI and subsequently nod from the Cabinet for setting up the payment bank. 

India Post's payments bank with 650 branches is expected to start functioning from September 2017. There are 1.54 lakh post offices, of which 1.39 lakh are rural ones. 

The total asset of postal payments bank is Rs 800 crore, which will have Rs 400 crore equity and Rs 400 crore grant. 

India Post Payment Bank (IPPB) last month received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations during 2017. 

IPPB aims to become the most accessible bank in the world, riding on advanced banking and payments technology. 

Coupled with physical presence across 1.55 lakh post offices and the reach of the postman, it plans to become a powerful and effective vehicle of real financial inclusion in the country.