Why You Can Bank on India Post

  Of the 26 aspirants who want to set up a bank, the government arm, India Post, appears to be best placed to fulfil the objective of financial inclusion. The Reserve Bank of India has said new banks will have to set up at least three branches in villages with a population of less than 10,000 for each branch they establish in other areas.

Unlike what many believe, a Post Bank of India (PBI) will be a completely new entity with no legacies of a government department and very little to do with its parent, except using some of its network. It will have an independent board and just two members from the government, one from the finance ministry and another from the department of post.

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Government allots Rs 1,300cr to Post Bank

  NEW DELHI: The expenditure department has decided to sanction Rs 1,300 crore to the proposed Post Bank of India to meet its capital requirements even as the department of financial services (DFS) - the wing in the finance ministry that deals with state-run banks and their policies - chose to stay away from the issue.

 The proposal's backing by the expenditure finance commission and its subsequent green light by finance minister P Chidambaram is seen as the official go-ahead by the finance ministry, ignoring the DFS's stance. The DFS position is seen as the first instance of the agency not backing the Post Bank's plan, which officers in the department have privately mocked at.

 "They think they can use the postal deposit model for their banking foray. Nothing in their plan seems to be clear. Banking isn't easy," said an officer, who did not wish to be identified.

POSTAL ASSISTANT/SORTING ASSISTANT EXAM 2013 - SHORT LIST PUBLISHED

Direct Recruitment PA/SA Examination - LATEST UPDATE : KERALA CIRCLE SHORT LIST ALSO PUBLISHED

UPDATE as on 23-JUL-2013

I  The List of shortlisted candidates for the Computer Typing / Data Entry (PAPER II) for Kerala Postal Circles is added in the given link below.

II PAPER II for Andhra Pradesh, Gujrat, Karnataka, Maharashtra, Tamil Nadu, and Kerala Postal Circles is scheduled on 10th and 11th August 2013.The Admit cards for the same have been dispatched. If not received by 31 July 2013 then it can be downloaded from India Post website from August 01, 2013.

Click here for : SHORT LISTED CANDIDATES FOR PAPER II

POSTAL/SORTING ASSISTANT SHORT LISTED CANDIDATES

Direct Recruitment PA/SA Examination

I. Aptitude Test (Paper I) for all the postal circles is completed. The List of shortlisted candidates for the Computer Typing / Data Entry (PAPER II) for Andhra Pradesh, Gujrat, Karnataka, Maharashtra, Tamil Nadu, Assam, Chhattisgarh, Jharkhand, Madhya Pradesh, North East, Odisha, West Bengal Postal Circles is given in the link below:

 SHORT LISTED CANDIDATES FOR PAPER II

The list in respect of the remaining Postal Circles will be published shortly.

II. The above Short List has been prepared in accordance with the procedure published in the Notification No 60-9/2009 SPB1 dated 8-5-2012. The candidates who figure in the above list have qualified for appearing in the Paper II based on marks in the Paper I.
III The list is in order of Roll Number.
IV. Paper II is tentatively scheduled on 10th,11th,24th,25th,31th August 2013 and 1st September 2013
V. Admit Card for Paper II will be dispatched shortly. Admit Card can also be generated on this website by the candidates.

Let the postman turn banker: India Post deserves to get a bank licence

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India Post wants to own a bank. This is a great idea. In one stroke, 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.

POSTAL BANK- EDITORIAL OF MATHRUBHUMI

"Mathrubhumi" the leading Malayalam daily in its editorial dated 10-07-2013 underlines the importance of Postal Departments entry in to the Banking sector. Click Here to read the Editorial....

Appeal from Chief Post Master General, Uttarakhand Circle, Dehradun-248001

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Kerala gets its first 'all-women post office'.

Customers who come to the old sub-post office near the Post Master General’s office are welcomed by four proudly smiling women. The office now possesses an air of fervency and hospitality that is not usually seen in government offices.
 The Department of Posts turned the PMG sub-post office into a women-only workplace on Tuesday, making it Kerala’s first all-women post office. The Post Office is entirely operated by women employees and provides all facilities that are available in any other post office. The office will be officially inaugurated on Friday.
 The post office has four staff members, including post master Shanthi S, postal assistant Manju R, stamp vendor Chandrika C and sweeper Latha Kumari.

TCS making India Post technology smart.

 

  On 29 May, India’s leading software services exporter, Tata Consultancy Services Ltd (TCS), got a six-year, Rs.1,100 crore contract to equip India Post with modern technologies and systems. The aim is to help the department deliver not just postal services but also insurance, disburse pensions, accept deposits and collect bills, similar to postal departments in developed countries such as the US, Canada and Germany. Tanmoy Chakrabarty, vice-president and global head of the government solutions unit at TCS, has a 70-people team working on integrating the core systems of the India Post modernization programme. In an interview, Chakrabarty spoke about the status of the project and the challenges he faces. Edited excerpts:

What does the modernization project envisage, and how big is the role of TCS in it?

There are many parts to this programme. There are different vendors doing various jobs such as network integration and rural systems integration (RSI). About 35,000 post offices in the country are single-staffed, hence RSI is very important from a technology standpoint. Then there are financial systems integrators that are working on the automation of all manual entries, book entries, etc. In addition, there’s a data centre project which comprises a centralized data centre and a disaster recovery centre—the first in Mumbai and the other in Mysore.

India Post to carry relief material free to Uttarakhand.

 ALLAHABAD: The Department of Posts has decided to carry relief material for Uttarakhand flood victims without any postal charges.

Director, Postal Services, Allahabad Region, Krishna Kumar Yadav, said that the facility would be available at all head post offices up to July 20. India Post would collect relief material from general public/institutions / agencies /NGO and dispatch the same to Uttarakhand.

Yadav said that the package containing relief material should not more than 35kg in weight. It should be securely packed and marked as "relief material for Uttarkhand".