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It is understood that Department of Posts is going to have agreement with government telecom company Bharat Sanchar Nigam Limited (BSNL) to use its platform to roll out payment bank services, which is proposed to start by March 2016. This will be beneficial for both to Department of Posts and BSNL, which were both part of one single Department, P and T, till 1985.
VAN Namboodiri's Blog 
What is the tie up means? What sort of work sharing?
The tie up means that BSNL will provide the technology for the bank functioning.
Thats gud news for our BSNL