India Post will launch its payment bank by March 2017. Inaugurating the Good Governance Week Celebration in New Delhi yesterday, Communication and IT Minister Ravi Shankar Prasad gave this information. <br/><br/>Mr Prasad said, 40 international financial conglomerates, including World Bank and Barclays, have shown interest to partner with Postal Department for the payment bank.<br/><br/>The Reserve Bank of India had granted in-principle approval to 11 applicants, including Postal Department, in August to set up payments banks.