ln a first of its kind initiative in the BFSI sector, lndia Post has called for public participation in designing the logo and tagline for its soon to be launched Payments Bank on the MyGov portal.
A prize money of Rs 50,000/- for the winning logo and tagline has been declared. More than 1500 entries have already been received from people from all walks of life. On popular demand it has been decided to modify the contest terms and conditions to allow the contestants to submit logo and/or taglines and split the prize money to Rs 25,OO0 for each category.
lf a single entry is adjudged best in both categories, the winner will stand to gain the entire prize money of Rs 50,0Q0. With the change in the contest rules to allow entries for either Logo or tagline or both, the contest has now been extended till 31st July to ailow for awider participation.
Minister for communications and lr, shri Ravi shankar prasad has exhorted the public to participate in co-creating the DNA of what will be the most accessible bank in the world, with ihe ability to reach every household across the rength and breadth of the country.,,since this would be a Bank for the people, it is only right that the people should have a say in what it shourd rook like and what it shourd stand for, he has said.
A panel of eminent designers/ experts will help shorflist 20 best entries ‘which will theregl]u, be put up for voting on the MyGov platform for the final selection of the winner. About the lndia post payments Bank.
The lndia Post payments Bank will offer digitally enabled payments, banking and remittance services of all kinis between entities and individuals and also provide access to insurance, mutual funds, pension and credit products in partnership with third party financial service providers and Banks.
The stakeholders of the lndia Post Payments Bank within the Government and outside are looking at this new entity as a catalyst to social and financial inclusion. The roll out of the lppg is to be completed by September 2017.