Brother, it is not a new channel under planning. Earlier Bag Network used to upload all news related content on its flagship YouTube Channel but few months back they have created few state specific YouTube Channels using the name of flagship brand and made whole thing more organized.
It is similar to what Aaj Tak does, they r also having numerous youtube channels catering to number of states or even topics. With internet penetration and impact touching new heights, creating digital content proves cost effective and easy way to get the message across vast universe. Running a channel is very expensive proposition hence unless there is guarantee of sustainable business model most broadcasters do not risk putting investment in it.