Department of Posts has
proposed to set up a Post Bank of India . This will be an independent
entity, separate from the current operations of Small savings Schemes being
carried out by the Department on behalf of Ministry of Finance. The Department
of Posts has accordingly submitted an application to the RBI on 28.06.2013
seeking a banking license subject to necessary Cabinet approvals.
The details of financial
services offered by the Post offices at present are as below:-
(1) Small
Savings Schemes of Government of India (on behalf of Ministry of Finance)
(i) Post
Office Savings Account
(ii) Post
Office Time Deposit Account
(iii) Post
Office Recurring Deposit Account
(iv) Post
Office Monthly Income Account
(v) Senior
Citizens Savings Scheme Account
(vi) Public
Provident Fund Account
(vii) National
Savings Certificates (VIII) and
(IX) issue
(2) Money Remittances
(i) Money
Order-Domestic
(ii) Instant
Money Order- Domestic (through selected post offices)
(iii) Western
Union Money Remittances –International Inward (through selected post offices)
(iv) Money Gram Money
Remittances –International Inward (through selected post offices)
(v) Money
Order Videsh-
International Inward and Outward (through selected post offices)
(vi) Electronic
International Money Order Service-Inward
(through selected post offices)
This information was given by Dr.
Smt. Killi Kruparani,
Minister of State for Communications and Information Technology in a written
reply to a
question in theLok Sabha today.
//PIB//
