News That Matters

Tag: India

PM to launch India Post Payments Bank on Sept 1

PM to launch India Post Payments Bank on Sept 1

Finance
Prime Minister Narendra Modi will tomorrow launch the India Post Payments Bank (IPPB) that seeks to leverage the expansive network of the postal department to ensure financial inclusion for the masses. The event is scheduled to be held at Talkatora Stadium in New Delhi, along with simultaneous launch events at 650 branches and 3,250 access points that will go live tomorrow, an official statement said. "IPPB has been envisioned as an accessible, affordable and trusted bank for the common man, to help speedily achieve the financial inclusion objectives of the Union Government," it added. The payments bank, where the Indian government holds 100 per cent equity, will leverage the vast network of the Department of Posts (DoP) that has more than three lakh postmen and Grameen Dak Sewaks. All the...
BLS E-Services acquires Starfin India for an undisclosed amount

BLS E-Services acquires Starfin India for an undisclosed amount

Finance
BLS E-Services today said it has acquired Starfin India, a banking business correspondent of State Bank of India, for an undisclosed amount. The company, which is a wholly-owned subsidiary of BLS International, has over 1,500 active customer service centres, BLS E-Services said in a statement. Starfin has a network of Customer Service Centres (CSCs) across 11 states through which it caters to banking services to millions of customers. "This acquisition will not only provide major growth opportunities to BLS and will strengthen our presence in B2C services in India," BLS International JMD Shikhar Aggarwal said. With Starfin the company aims to enable every consumer to seamlessly benefit through financial and social inclusion, Digital India and different government programmes to provide a wi...
Root run-out sparks England collapse against India

Root run-out sparks England collapse against India

Sports
Media playback is not supported on this device First Specsavers Test, Edgbaston, day one of fiveEngland 285-9: Root 80, Bairstow 70, Jennings 42; Ashwin 4-60India: Yet to batScorecardA horrible run-out of Joe Root sparked an England collapse on day one of the first Test against India at Edgbaston.Root was on 80 when he and Jonny Bairstow opted for a second run, only for Virat Kohli's direct hit to beat the dive of the England captain.From there, England lost four wickets for 27 runs and eventually limped to 285-9. Earlier, they looked to be taking advantage of winning ...
India Post Payments Bank to start operations soon with 650 branch

India Post Payments Bank to start operations soon with 650 branch

Finance
NEW DELHI: India Post Payments Bank is expected to go live with 650 branches and around 17 crore accounts in August, following clearance from Reserve Bank of India to start operations. "We are looking at launch date. From an operational, technology and market perspective, we are ready to go live," India Post Payments Bank (IPPB) MD and CEO Suresh Sethi told PTI. He confirmed that RBI has given approval to IPPB after testing its entire system. The final approval for the launch of IPPB was pending before the RBI. According to sources in the communications ministry the launch of IPPB is expected in August. When asked about the launch schedule, Sethi without specifying the timings said: "It is very much around the corner". IPPB was the third entity to receive payments bank permit after Airtel ...
U.S., Japan and India conduct minesweeping exercise

U.S., Japan and India conduct minesweeping exercise

Business
July 20 (UPI) -- Anti-mine units from the U.S. Navy, the Japan Maritime Self Defense Forces and the Indian navy began mine countermeasure exercises near Ominato, Japan, this week. The U.S. and its allies conduct the exercise, known as 2JA, on an annual basis to increase interoperability between forces and capabilities in mine countermeasure operations. "This exercise allows us to flex our mine countermeasure muscles and improve interoperability with our JMSDF and Indian Navy teammates," commander of Amphibious Force 7th Fleet Rear Adm. Brad Cooper said. "The mine countermeasure mission is hugely important to both military and civilian shipping from all nations in the Indo-Pacific region and keeping waterways clear of mine threats is fundamental to national security and the free flow of t...