Recapitalisation plan in the works for India Post Payments Bank

The government is exploring options to make India Post Payments Bank viable, which include infusing about Rs 2,000 crore into it and merging the institution with regional rural banks (RRBs). The payments bank, launched in January 2017, has not been doing well as a standalone entity and needs to be recapitalised, said an official in the know. Email queries to the secretary, Department of Posts, and chairman, Postal Services Board, did not get a response. There was no reply to queries sent to the bank spokesperson either. The government-owned bank will run out of funds in the f.....

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