Skip to main content
Image
By
The Rising Force of Postal Banking in the
Retail Banking Market 
The Minister for Communications & IT and Law and Justice Shri Ravi Shankar Prasad has said that a group constituted by the Prime Minister consisting of the Secretary of the Postal department is looking into making of a financial institution for Postal savings. He was inaugurating the Postal Savings Banks Forum being organised by World Savings and Retail Banking Institute (WSBI), the National Savings Organisation of the Finance Ministry and the Department of Posts in New Delhi today. He said the present government wants to promote financial inclusion and the Jhan Dhan Yojana is a big effort in this direction. Another programme of the government of ‘Digital India’, which is steered by his ministry, also aims at digital inclusion and digital empowerment of rural poor.

Shri Prasad informed delegates from various countries that Post Office Savings Bank is one of the oldest and largest savings institution in the country and it also has the largest outreach in rural India, and more so, in backward and remote areas. The minister expressed happiness that the major asset of the postal institution, that is its connectivity on the ground is sought to be used for promoting e commerce in the country.

Secretary, Department of Posts Srimati Kavary Banerjee, in her key note address informed that the Department’s network of thousand post offices significantly out-numbers the combined number of branches of all commercial banks taken together. The post office savings schemes hold a total of 312 million accounts, which is more than the number of accounts held by any commercial bank. More importantly, the social sector disbursements done through the post offices have succeeded in bringing a total of about 80 million previously unbanked individuals into the fold of formal financial institutions in the last five years. All these have led to a change in the perception about the Post Office among the public as also within the organization. Consequently India Post is now perceived as a potential key facilitator of financial inclusion in the country, having a role in promoting the country’s socio-economic development, she added.

The theme of this year’s Postal Savings Banks Forum will be "The rising force of postal banking in the retail banking market". 

Comments

Post a Comment

Popular posts from this blog

Duties and additional duties of Postman----for information of all supervisory cadre

By
  DG(P) No.11-1/2010-Admn dated 18-11-2010 NO.25-20/2008-PE-I Government of India Ministry of Communications & IT Department of Posts (Establishment Division)                                                                                                        Dak Bhavan, Sansad Marg                                                                                          New Delhi                                                                                                       Dated 25.11.2008   TO              All Heads of Circles/Regions,   Subject: Additional duties for Postman/Delivery Staff.                                       On account of changes in work scenario of the Post offices brought about due to the induction of technology and primacy of business products, the duties and responsibilities of the postman have undergone a vast change. In order to incorporate these changes, the following duties are prescribed in addition to t
Post a Comment
Read more>>
By
ENHANCEMENT OF FINANCIAL POWERS OF HSG, HSG-II AND LSG POST MASTERS ( THESE ORDERS ARE IN FORCE. NO REVISION TAKES PLACE SINCE 21 YEARS) A reference is invited to Circular No.62-8/64-CI dated 20.10.1965 delegating financial powers to HSG and LSG Postmasters to incur expenditure of a contingent nature on the following items: a) Replacing, repairing, cleaning, oiling, shifting of electric lights and fittings, fans etc. of the office in a rented building when the charge is a Government liability. b) Repairs of Department bicycles. c) Purchase of earthen pots, glass tumblers, dusters, brooms etc. d) Purchase and repairs to furniture. e) Emergent arrangements for conveyance of mails. 2. The question of enhancement of the powers were being examined in the Directorate in view of the rise in the prices and it has been decided to enhance the powers given to HSG & LSG Postmasters from Rs.30 & Rs.20/- respectively on each occasion to Rs.60/- & Rs.40/- respectively on each o
1 comment
Read more>>

Revised norms of work of Postmen----for information of supervisory cadre

By
Department in Memo No 9-1/2005-WSI/PE-I dated 5.2.2010 has revised the norms for Postmen establishment as follows. The revised norms will also be applicable for GDS MD as per note below Rule 106 of Volume VI Part III. The Head of Circles and Regional PMsG are requested to undertake a review of the implementation of revised norms after six months and provide the for assessing the impact of new norms and undetaking a fresh review if considered necessary. Sl No Item Congested areas in Minutes Less congested areas in minutes Remarks 1 Delivery of unregistered mail (other than in multistoried buildings) 0.72 0.72 - 2 Delivery of unregistered mail in multistoried buildings 0.42 0.42 Note 1 below 3 Delivery of unregistered mail in bulk 2.00 for delivery of seven articles 2.00 for delivery of seven articles Note 2 below 4 Registered and Parcel mail (includin
1 comment
Read more>>