Tuesday, 23 July 2013
Monday, 22 July 2013
GOVERNMENT ALLOTS RS 1,300 CR 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 poliiies - 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. In fact, a strong Post Bank is seen to be the biggest challenge to existing public sector banks, including State Bank of India, which controls 70% of the banking business in the country. SBI, the largest lender, has a little less than 15,000 branches, while there are over 1.5 lakh post offices across the country.
Although Post Bank does not intend to open a bank branch in each post office, the plan is to use postmen to meet the financial inclusion goal. Secretary (posts) P Gopinath refused to speak to TOI despite several attempts.
According to the plan, Post Bank will have 50 branches in the first year, which will be increased to 150 by the fifth year. The branches will be located in select Head Post Offices in Tier-1-4 centres and select Sub-Post Offices in Tier-5-6 centres.
To meet RBI norms, the postal department proposes to set up a new entity - Post Bank of India - that will have an independent board and separate operations. Apart from independent directors, the board will have representatives from the finance ministry and the postal department. Separate recruitment has been planned to have specialist bankers.
While converting the entire postal network would have meant a capital requirement of over Rs 60,000 crore, by setting up a special entity, the fund requirement has been reduced. This, officers said, will also help create a more focused strategy.
Source : THE TIMES OF INDIA dated 22/07/2013
Sunday, 21 July 2013
Friday, 19 July 2013
உறுப்பினர் சந்தா ரூபாய் 50 ஆக மாறுகிறது
திருவனந்தபுரம் அகில இந்திய மாநாட்டின் முடிவின் படி NFPE அஞ்சல் மூன்றாம் பிரிவின் உறுப்பினர் சந்தா ரூபாய் 30 இல் இருந்து ரூபாய் 50 ஆக மறுகிறது எனபதனை நமது உறுப்பினர்களுக்கு தெரிவித்து கொள்கிறோம். இது 01.07.2013 முதல் நடைமுறைக்கு வருகிறது . இதன் அடிப்படையில் பகுதி பணமும் ஒதுக்கீடு மாற்றப்பட்டுள்ளது
கோட்ட சங்கம் ------ RS 24.50
மாநில சங்கம் ------ RS 15.00
மத்திய சங்கம் ----- RS 08.00
சம்மேளனம் ---- RS 02.50
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RS 50.00
Wednesday, 17 July 2013
Circle Welfare Fund for Gramin Dak Sevaks – Regarding.
No. 19-31/2012-WL & Sports Dated at New Delhi the 12th July 2013
To,
All the Head of Postal Circle
All the Heads of Postal Regions
Subjects: - Circle Welfare Fund for Gramin Dak Sevaks – Regarding.
Sir/Madam,
This is regarding introduction of the Circle Welfare Fund for GDSs in all the Circles as part of the ‘one year initiatives of the department of Posts,’ under the guidance of Hon’ble Minister of Communications and information Technology. The draft Schemes of Circle Welfare Fund for GDSs formulated by the Directorate is enclosed herewith.
2. Before finalizing the scheme you are requested to send your valuable suggestions/comment/views on the draft scheme, latest by 29th July 2013
To,
All the Head of Postal Circle
All the Heads of Postal Regions
Subjects: - Circle Welfare Fund for Gramin Dak Sevaks – Regarding.
Sir/Madam,
This is regarding introduction of the Circle Welfare Fund for GDSs in all the Circles as part of the ‘one year initiatives of the department of Posts,’ under the guidance of Hon’ble Minister of Communications and information Technology. The draft Schemes of Circle Welfare Fund for GDSs formulated by the Directorate is enclosed herewith.
2. Before finalizing the scheme you are requested to send your valuable suggestions/comment/views on the draft scheme, latest by 29th July 2013
Yours Faithfully
Sd/-
(L.N Sharma)
Deputy Directorate General
(Training & Welfare)
Tuesday, 16 July 2013
India Post deserves to get a bank licence
Let the postman turn banker: India Post deserves to get a bank licence
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.
India Post also fits the bill on other counts: a long track record of integrity and, most important — with one post office for every four villages — a massive presence in rural India, where the RBI wants 25 per cent of all branches to be located. Forget microfinance companies, even compared to government-owned banks, the postal bank's cost structure, if it assigns some banking duties to postmen, will be lower.
India Post wants the government to sanction around Rs 1,300 crore for capital adequacy and to hire more people. It should get the money. The RBI wants new banks to be set up through a wholly-owned non-operative financial holding company. So, the postal bank will need to be corporatised. It should run on sound commercial principles and at arm's length from political masters.
Post offices in countries like Germany and Japan have successfully offered banking services. There is no reason why it cannot be done here. Many post offices are already computerised. These machines should be upgraded with banking software. A bank, trusted by local communities, will also make it easier to implement the direct transfer scheme.
All that needs to be done is to give a mobile device, a micro ATM, to the postman who can double up as a banking correspondent. The RBI needs to think innovatively about inclusive banking and spreading the reach of formal credit where there is none, now.
Source :
Monday, 15 July 2013
Web Links
Courtesy : http://potools.blogspot.in/
Sunday, 14 July 2013
கண்ணீர் அஞ்சலி
NFPE, Srirangam
Saturday, 13 July 2013
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