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January 1, 2011India Post to join hands with banks for pre-paid cash cards
Press Trust Of India
New Delhi, January 01, 2011
The Department of Post will collaborate with leading banks — IDBI, HSBC and ICICI Bank–to provide cards (on the line of credit cards) to rural people in order to facilitate non-cash transactions for purchase of products and services. The card will come with pre-determined amount in rupees and could be operated at merchant locations, ATMs and designated post offices subject to approval by the Reserve Bank of India. [more]
