Wednesday 17 July 2013

LET THE POSTMAN TURN BANKER: INDIA POST DESERVES TO GET A BANK LICENCE

ET Bureau Jul 16, 2013, 05.00AM IST

India Post wants to own a bank. This is a great idea. In onestroke, this can ensure that millions more will get access to formal credit, in one of the most under-banked countries of the world.

The biggest advantage for India Post, among the most enduring institutions set up by the British, is its huge network and customer base. Compared to roughly 1,00,000 commercial and rural bank branches in India, there are 1,55,000 post offices, a majority in rural and semi-urban areas. As a collector of small savings, it has experience in taking deposits — about Rs 6 lakh crore at last count — but not in lending. A bank licence for only India Post would mean that the network of bank branches would more than double in one stroke.

DEPARTMENT PROPOSAL TO INTRODUCTION OF CIRCLE WELFARE FUND TO GDSs.

No. 19-31/2012-WL & Sports                                                       Dated at New Delhi the 12th July 2013

To  

             All the Head of Postal Circle

             All the Heads of Postal Regions

Subjects: - Circle Welfare Fund for Gramin Dak Sevaks – Regarding.

Sir/Madam,

            This is regarding introduction of the Circle Welfare Fund for GDSs in all the Circles as part of the ‘One year initiatives of the Department of Posts,’ under the guidance of Hon’ble Minister of Communications and Information Technology. The draft Schemes of Circle Welfare Fund for GDSs formulated by the Directorate is enclosed herewith.

2.          Before finalizing the scheme you are requested to send your valuable suggestions / comment / views on the draft scheme, latest by 29th July 2013.