BANKING SERVICES IN POST OFFICES -- RAJYA SABHA Q & A
GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
DEPARTMENT OF POSTS
RAJYA SABHA
UNSTARRED QUESTION NO.533
TO BE ANSWERED ON 27th FEBRUARY, 2015
BANKING SERVICES IN POST OFFICES
†533. SHRI BHUPENDER YADAV:
Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state:
(a) whether Government proposes to entrust banking related services to the Department of Posts;
(b) whether all post offices in the country would also function as a bank; and
(c) if so, by when this work is likely to be completed?
ANSWER
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)
(a)
Yes Sir. The Department of Posts applied to the Reserve Bank of India
for issuance of license for setting up of Payments Bank on 30.01.2015.
(b)
No Sir. The Government does not propose to convert all post offices in
the country to function as a bank. However, Department of Posts applied
for license for setting up a Payments Bank on 30.01.2015, which may
utilize a part of existing resources /infrastructure of the Department.
(c) Date of completion of the above work will be depended on the decision of the Reserve Bank of India.
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GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
DEPARTMENT OF POSTS
RAJYA SABHA
UNSTARRED QUESTION NO.547
TO BE ANSWERED ON 27th FEBRUARY, 2015
DEPARTMENT OF POSTS ENTERING INTO BANKING SERVICES
†547. SHRI RAM NATH THAKUR:
Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state?
(a)
whether Government plans to establish Post Bank of India by converting
the wide network of post offices spread across the country into
commercial banks, if so, the details thereof;
(b)
whether the Department of Posts had expressed its intention before the
Government of entering into banking services in the rural areas during a
discussion on the suggestions of a task force constituted on India
Post; and
(c) if so, the details thereof and the action plan made by Government in this regard?
ANSWER
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)
(a)
The Government does not propose to convert the wide network of post
offices spread across the country into commercial banks. The proposed
Post Bank of India is envisaged as an independent entity.
(b)
During the discussions on the suggestions put forward by task force
constituted for leveraging the Post Office Network, the Department of
Posts expressed the view that it is ready to enter into the banking
space with focus on rural areas.
(c)
Based on a consideration of all relevant aspects, the Department of
Posts has submitted an application to Reserve Bank of India seeking
License for setting up a Payments Bank as an independent entity.
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