There are at least 26 firms that are keen to partner with India Post Payments Bank. According to union communications minister Manoj Sinha these firms include both banking and non-banking companies and the government is in various stages of discussions with them. The India Post Payments Bank had opened two branches – in Raipur and Ranchi – and has started offering basic banking products and services. The payments bank has tied up with Punjab National Bank in this regard. Sinha listed banking firms that have shown interest in partnership with the payments bank as YES Bank, Union Bank of India, State Bank of India, Deutsche Bank, Barclays, HSBC and Royal Sundaram.
