Post Bank of India (PBI). Moving a step closer to setting up a banking business, the Department of Posts has started scouting for a consultancy firm to prepare a road map for the proposed ‘Post Bank of India’ (PBI), the department has already carried out a feasibility study for setting up the Post Bank of India and it has invited expression on interest from consultancy firms to finalize the plans for the bank.
The proposed Post Bank of India will provide banking services, including accepting of deposits from the public for the purpose of lending or investment. The PBI will aim to “provide banking services with special focus on rural areas ride on the Core Banking Solution which is proposed to be provided in all the post offices.”
PBI will also become an additional source of revenue generation for the DoP, besides creating a platform for financial inclusion programme of the government.