Department
of Posts raised a proposal for setting up the Post Bank of India and
providing banking services with a network of 1.55 lakh post offices with
special focus on rural areas and financial inclusion.
Reserve Bank of India (RBI)
has informed that all commercial banks have been constituted by the Government
by various Acts of the Parliament.
Hence, to set up the
Post Bank of India (PBI) by an Act of Parliament, necessary
legislation will need to be framed and passed by the Parliament.
Or to set up the Post Bank as banking
company, the same would require a banking licence from RBI as per RBI’s extant
guidelines issued in February, 2013.
RBI is of the view that it is useful to
take up a detailed Cost Benefit Analysis on the proposal.
In addition, viability and strategic
study, market research, business plan and profitability
analysis including business projections for next 4-5 years needs to be
carried out to assess the commercial viability of the proposal.
The above information was submitted
by Fin Min in reply of undermentioned Rajya Sabha Questions:-
GOVERNMENT OF INDIA
MINISTRY OF
FINANCE
RAJYA SABHA
UNSTARRED
QUESTION NO-3153
Functioning of post
offices as banks
3153
. SHRI C.P. NARAYANAN
(a)
the
reasons for not allowing Indian Post Office system to function as a banking
system to mop upmoney lying idle with people while the declared policy of
the Union Government is inclusive development and extension of banking
operations to all rural people;
(b)
whether post would be enrolled as one among the new banks with about 1,55,000
branches all over the country and with a good track record of successfully
running Post Office Savings Bank for many years; and
(c)
whether it is possible to substantially improve the quality of service of post
offices in the process if so, the details thereof?
ANSWER
The
Minister of State in the Ministry of Finance (Shri Namo Narain Meena)
(a) to (c): **see above**
Source: Rajya Sabha Q&A [qref=191160]
(a) to (c): **see above**
Source: Rajya Sabha Q&A [qref=191160]
