group by time and other column in pandas

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I have a large pandas dataframe containing columns timestamp, name, and value

index    timestamp                     name   value
0        1999-12-31 23:59:59.000107    A      16
1        1999-12-31 23:59:59.000385    B      12
2        1999-12-31 23:59:59.000404    C      25 
3        1999-12-31 23:59:59.000704    B      15
4        1999-12-31 23:59:59.001281    A      300
5        1999-12-31 23:59:59.002211    C      20
6        1999-12-31 23:59:59.002367    C      3

I want to group by time buckets (say 20ms or 20 minutes) and name, and calculate the average value for each group.

What is the most efficient manner to do it?

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