INDIA POST SHORTLISTS 6 CONSULTANTS FOR PAYMENTS BANK FORAY

NEW DELHI, OCTOBER 20:  
The country’s largest postal service provider, India Post, is expected to float a request for proposal this week to select a consultant for its Postal Bank that is expected to be formed by December.
India Post has shortlisted six consultants, including EY, KPMG and McKinsey, from which it will select one firm to take care of consultancy work for the payments bank foray, a senior government official told BusinessLine. “The firms were shortlisted on October 15. The name of the one selected will go to the Public Investment Board (PIB) for approval. Then the PIB will make recommendations to the Cabinet,” a government official said
The official said the whole project will go for Cabinet approval in November (early next month). Once that approval comes through, the company (Postal Bank) is expected to be registered as a public company in December. India Post is among the 11 successful applicants that recently got in-principle nod for payments bank licence from the Reserve Bank of India. The new registered company will be called India Post Payments Bank and will have an initial capital of ₹300 crore, higher than the minimum ₹100 crore stipulated by the RBI. The company will be based on a revenue-share model.
Once the company is set up, India Post will fully leverage the existing postal network (technology, personnel, etc) for its payments bank foray with a separate logo. The bank will undertake the following types of payments: P2P (people to people) — involving, say, remittances; C2G (citizen to government) — taxes, duties, levies, and so forth; C2B (customer to bank) — e-commerce-related payments, among others; and G2C (government to citizen) — such as direct benefits transfer payments.

Comments

Post a Comment

Popular posts from this blog

Download Data Entry Software for Postal/Sorting Assistant (PA/SA) Exam- Phase 2

Image
As promised in our earlier post, in this post we are providing you the Data Entry Software (Offline) to Practice Data Entry for Postal/Sorting Assistant Exam. Almost all are conversant with what the typing test is as a lot of online and offline software’s are available in the internet. But when it comes to Data Entry options are limited. Here we are providing you one of the best Data Entry Software that will be handy for PA/SA Phase 2 exam preparation. Features of Software: 1) 3 types of data entry tests are included: alpha, numeric, alphanumeric. 2) Gross and net keystrokes per hour as well as accuracy are measured and saved in a results database for printing or viewing. 3) User decides width of numeric field and decimal display or suppress fornumeric tests. 4) Alphanumeric test is in the form of a typical invoice. 5) With the click of a button, new data entry tests can be created by the program. 5) You decide the duration of the tests; up to 30 minu
CLICK HERE FOR MORE

Letter to CPMG on latest issues of SBCO

ALL INDIA SAVINGS BANK CONTROL EMPLOYEES UNION KERALA CIRCLE (Recognized Union of Department of Posts) CHQ: Nirmalyam, Erezha North, Chettikulangara, Mavelikara 690106 The Chief Postmaster General, Kerala Circle, Trivandrum 695 033 L No. AISBCEU/Circle/2017-18                                      dated at Mavelikara the   19 th June 2017 Respected Sir,         May I invite your kind attention to some major issues relating to SBCO requiring immediate remedial action. 1)             On migration to Core banking solution, vide SB order No. 14/2015 and its addendums issued by the Directorate, work of SBCO has been drastically changed.  The work erstwhile done at HO SB branch was discontinued and entrusted to SBCO with a consolation of direction to provide the staff of SB branch to SBCO. This instruction has not been complied by the Postmasters & Divisional Heads at many HOs.  In a very few HOs, on the strict order of their Divisional Heads, Postmasters
CLICK HERE FOR MORE

PRESERVATION PERIOD FOR POSTAL RECORDS ( SBCO BRANCH ) Updated

PRESERVATION PERIOD FOR POSTAL RECORDS ( SBCO BRANCH) SL NO            DETAILS OF OLD RECORDS Period of preservation  1 List of Transactions 2 Years (After Agreement ) 2 All categories of vouchers ( Dep / Wdl ) 5 Years All categories of vouchers - Closures  5 Years As per SB order no. 14/2012 & 08/2013 3  Consolidation journals  ( Local/Credit/Debit  ) 2 Years 4 Consolidation journals SB/RD / MIS/ TD  Dep & Wdl 2 Years 5 Register of SB62, 62a, SB63, RD85, 85a, of all  categories 3 Years 6 Register of OMs 2 Years ( after closure of all OMs in the register ) 7 Interest Statement  summary 3 Years 8 Miscellaneous  Registers a) Discrepancy Register b) Binder verification Regis
CLICK HERE FOR MORE