Post Bank of India (PBI) – Comming soon from Department of Posts

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 DoP, according to an official document, “intends to obtain approval from the Cabinet and license from RBI for creation of a full-fledged bank (PBI).”

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.

2 thoughts on “Post Bank of India (PBI) – Comming soon from Department of Posts

  1. Abhay Deo10 says:

    it will be very good initiative particularly fro rural  indian people.

  2. Indian Rural area realy needs some banking facility

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