Post Bank Of India Project

Hii sir, I wants to get the Information About the Post bank of India Also Provide me the Information About the Structure and funding of the Bank ?

[shikha]

The India Post Payments Bank (IPPB) is a proposed state-owned commercial bank in India. The bank would use the existing network of the public-sector postal service, India Post.

Role of the Bank in the Financial Inclusion :

India Post has about 1,54,000 post offices, of them 90% are in rural areas. There is one post office for every 7176 people in India. India Post also has 2,96,000 agents in the rural area. About 2.2 crore people, already receive their National Rural Employment Guarantee Act (NREGA) payments by post office

Structure And Funding :


Organization

It has proposed by the task force that the existing Post Office Savings Bank (POSB) should be continued to run parallel to the new bank initially.
The existing post offices shall provide banking services to customer, whereas the bank branches shall handle back-office work, like processing loan applications, assessing credit worthiness and risk assessment, investment operations etc.

Funding
The Post Bank shall also provide institutional accounts to panchayats and micro-credit agencies.

Initially, the bank will operate separately from the postal business, with a branch in every district for the first three years.

The bank will require an initial funding of ₹500 crore from the government