"The Department of Posts on June 10, 2016, launched a logo and
tagline design contest for the soon to be set up India Post Payments
Bank on the MyGov website. The contest is open to all Indian citizens,
institutions, agencies and entities for one month until July 9, 2016,"
the Postal Department said in a statement.
The Union Cabinet on Wednesday cleared proposal to set up India Post
Payments Bank (IPPB) with a corpus of Rs.800 crore and a plan for 650
branches operational by September 2017. It will be expanded further to
cover the entire country by the end of 2018-19.
"The best entry will be awarded Rs.50,000. A panel of eminent
designers and experts will help shortlist 20 best entries which will
thereafter be put up for voting on the MyGov platform for the final
selection of the winner," the statement said.
The government has earlier accepted new sign of the rupee and the Swachh Bharat logo from public contests.
The department said it wants to connect with and involve the people
of India in designing "the DNA" of the India Post Payments Bank.
"One of the guiding principles of the India Post Payments Bank would
be co-creating value propositions and products with its customers and
other stakeholders. The present contest is the first step towards this
ongoing engagement. It has also initiated a nationwide survey to
understand the needs of different segments of customers," the statement
said.
The India Post Payments Bank (IPPB) will offer digitally enabled
payments, banking and remittance services of all kinds between entities
and individuals and also provide access to insurance, mutual funds,
pension and credit products in partnership with third-party financial
service providers and banks.
Initially most of the 3.5 lakh workforce will be posted on deputation who will be gradually be replaced by fresh recruits.
Telecom Minister Ravi Shankar Prasad has asked the Postal Department
to hire an MD and CEO of the IPPB by August and set up a selection
committee for hiring a chief financial officer by June 15.
Source : http://www.thestatesman.com
