The Centre has lifted embargo on private sector banks for conduct of government related transactions. They include taxes and other revenue payment facilities, pension payment and small saving schemes.
Earlier, only few private banks were permitted for such transactions. The move is expected to further enhance customer’s convenience, spur competition and higher efficiency in the standards of customer services. With the lifting of embargo, there is now no bar on Reserve Bank of India for authorization of private sector banks for government business.
The Dispatch is present across a number of social media platforms. Subscribe to our YouTube channel for exciting videos; join us on Facebook, Intagram and Twitter for quick updates and discussions. We are also available on the Telegram. Follow us on Pinterest for thousands of pictures and graphics. We care to respond to text messages on WhatsApp at 8082480136 [No calls accepted]. To contribute an article or pitch a story idea, write to us at [email protected] |Click to know more about The Dispatch, our standards and policies