Dear Comrades,
Even though full details of the proposed Post Bank of India is not made public, it is
learnt that
(1) Post Bank
will be a public sector Bank under the control of Department of Posts as a
subsidiary organization. It will function as a Bank separately, just like any
other public sector Banks. All Banking Rules and Regulations will be equally
applicable to Post Bank also.
(2) Recruiting
personnel for running the Bank will be done in the same manner as being done by
public sector Banks. Open market recruitment will be made. Existing Postal
Employees will not be considered for appointment in the Post Bank.
(3) The Post
office Savings Bank will remain as it is and do business as is being done now.
Post Bank will be a separate entity.
(4) Full
details are yet to be published.
(M. Krishnan)
General Secretary
