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 Kum ..
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