About
20 commercial banks have initiated talks with the department of posts
for a strategic tie-up with its proposed payments bank India Post
Payments Bank.
Department
of posts is among the eleven applicants to have received approval from
the Reserve Bank of India (RBI) to float a payments bank. The tie-up
will involve payments banks sourcing loans for commercial banks, while
commercial banks will offer credit cards to customers of payments
banks.
Speaking to ET, PN Ranjit Kumar, PMG Mumbai Region..
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