Govt preparing roadmap for Post Bank of India

Committee has asked the department to implement core banking solution in 120 of the identified pilot post offices by March, 2012

PTI | August 5, 2011



The Department of Post is preparing a roadmap to set up a Post Bank of India and will send the proposal for vetting to the finance ministry.

"On the setting up of Post Bank of India, the (IT) Secretary (had) stated that a roadmap will be sent to the Ministry of Finance for its views," said a report of the Standing Committee on Information Technology.  The Committee asked the Information Technology ministry to complete the formalities connected with setting up of the Post bank of India within a definite timeline, so that the bank could become functional at the earliest.

The committee also wanted the government to provide autonomy to Department of Post to fix interest rates on various small savings schemes, which was suggested by it in earlier reports. The report said that implementation of centralised banking for Post Office Savings Bank (POSB) along with the Post Bank of India could revolutionise the banking and money transfer operations in the country.

The Committee has also asked the department to implement core banking solution in 120 of the identified pilot post offices by March, 2012.

Under the core banking solution, the branches are linked to a centralised computer. Expressing concern over slow computerisation of post offices, it said that sincere efforts should be make them IT enabled.
 

Comments

 

Other News

Doctors, experts call for ban on junk food ads, mandate warning labels

More than 30 doctors, medical scientists and public health professionals have urged the government to take decisive action against the aggressive advertising and marketing of junk food, calling for a watershed ban on advertisements for foods high in fat, sugar and salt (HFSS) and ultra-processed foods (UPF

Asiatic Lion population rises from 523 in 2015 to 891 in 2025

On World Lion Day 2026, environment, forest and climate change Minister  Bhupender Yadav celebrated India’s remarkable journey in lion conservation and reaffirmed the country’s unwavering commitment to protecting wildlife and biodiversity.   In a post on soc

Railways imposed ₹5.13 crore fine for food quality and hygiene violations

Indian Railways serve about 58 crore meals every year on an average. About only 0.0008% food quality related complaints are received on average. Based on complaints during the last three years, appropriate penal actions have been taken by IRCTC. Such actions include imposition of fines amounting to ₹5.13

STHAVAR: Why every Indian built asset needs a permanent digital identity

India has built digital systems for identity, payments, taxation, documents, logistics and public services. State governments, ministries, infrastructure agencies and urban local bodies have also created portals for land records, building permissions, project monitoring, property taxation and municipal s

Saksham Skill census identifies 22,000 job-ready candidates in one Mumbai ward

A first-of-its-kind AI-enabled skill census conducted in Mumbai`s H-West Ward has identified a potential livelihood pipeline of nearly 22,000 candidates, generated over 32,000 provisional job matches while revealing that 71.2 per cent of surveyed homemakers are willing to join the workforce, according to

GI tags: Scaling traditional wealth into global brands

Geographical Indication (GI) tags have emerged as a powerful tool for protecting India`s cultural heritage, while creating economic opportunities for local communities. By linking products to their place of origin, GI tags preserve traditional knowledge, prevent misuse, and enhance consumer trust. They h

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter