IT and Communications Minister Kapil Sibal on Monday said the Department of Post
(DoP) would launch pre-paid smart card by May 15 this year.
"It (DoP) is waiting for approval from the Reserve Bank and by May 15 it will launch the pre-paid cards," Sibal said on the eve of completion of 100-days agenda set by him in January this year.
The White Line pre-paid smart card of India Post will be like a debit card, which can be used by a person to pay bill at stores, make transactions on internet and on mobile as well.
These cards will be issued from post offices and can be loaded with an amount ranging from Rs 1,000 to Rs 50,000, as mentioned in the tender floated by DoP.
DoP has partnered with HSBC, ICICI and IDBI for this project. The card can be operated at merchant establishments or ATMs where Master Cards are acceptable and in the respective Post Offices.