The Indian Department of Posts may complete the planning
phase for the creation of the Post Bank of India very soon. Post Bank of India
is being set up to provide all banking facilities to the rural population, who
have to rely upon informal sources for credit and other financial requirements.
It is reported that a detailed project report (DPR) will be
submitted in a few weeks from now explaining the organization structure of the
proposed institution. The DPR is likely to describe the relationship amongst the
founding bodies, the Department of Posts and Post Office Savings Bank with the
Post Bank of India.
For implementing the DPR, an external body of foreing
consultants has been selected. The implementation of the project may be carried
out by anyone of the firms - McKinsey & Co, Boston Consulting Group,
Accenture Services, KPMG Advisory Services and Ernst & Young. The DPR will
be finalized by December 31, 2012.
Post Bank of India is being established as a profit making
institution particularly to help Department of Posts in lessening its losses
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