Dear Comrades,
The Indian Department of Posts may complete the planning phase for
the creation of the Post Bank of India very soon. Post Bank of India is
being set up to provide all banking facilities to the rural population,
who have to rely upon informal sources for credit and other financial
requirements.
It is reported that a detailed project report
(DPR) will be submitted in a few weeks from now explaining the
organization structure of the proposed institution. The DPR is likely to
describe the relationship amongst the founding bodies, the Department
of Posts and Post Office Savings Bank with the Post Bank of India.
For implementing the DPR, an external body of foreing consultants
has been selected. The implementation of the project may be carried out
by anyone of the firms - McKinsey & Co, Boston Consulting Group,
Accenture Services, KPMG Advisory Services and Ernst & Young. The
DPR will be finalized by December 31, 2012.
Post Bank of India is being established as a profit making institution particularly to help Department of Posts in lessening its losses.
Rupees Times