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........ CITIZENS DUTY & SLOGAN ::: It shall be the duty of every Citizen of India to defend the Country and render National service when called upon to do so ... SLOGAN ::: "That loyalty to the Country becomes ahead of all other loyalties. And this is an absolute loyalty since one can not weight it in terms of what one receives" (Lal Bahadur Shastri) ..... face book page link for 4th AIC of AIPEU GDS ...https://www.facebook.com/106981442132718/posts/pfbid035srQe6UqacpeJWwUxp2YvpbTWn9oRVGQzH97yez1ieYpKKA9mLQYEciGeXaa3y1el/ ......... .......

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......... .............. CONGRATULATIONS TO THE SELECTED CANDIDATES FOR THE POSTS OF GDS ..................... 4th All India Conference of AIPEU GDS - 8th & 9th October 2022 -- Kasaragod - Kerala ......

MESSAGE FROM CHQ

... ... Dear Comrade newly elected Divisional / Branch Secretaries of AIPEU-GDS -- PLEASE SEND YOUR POSTAL ADDRESS WITH PIN CODE, MOBILE NUMBER, E-MAIL ID THROUGH SMS TO .. 6294343737 / 9748659815.. OR BY E-MAIL TO >aipeugdsnfpe@gmail.com< IMMEDIATELY................... CRUSADER TO GRAMIN DAK SEVAKS (2nd Edition -2016) is ready and can place indent to AIPEU GrC (CHQ), NEW DELHI-8....... One copy Rs.225/- (560 pages) ..... Send e-MO for Rs.250/- to receive one copy of the Book by Regd. Book Paket..........

Tuesday, October 28, 2014

A Curtain Raiser on Postal Savings Banks Forum

The Minister for Communications & IT and Law and Justice World Shri Ravi Shankar Prasad will inaugurate the Postal Savings Banks Forum in New Delhi tomorrow. 

This year’s forum is being organised by World Savings and Retail Banking Institute (WSBI) jointly with the National Savings Organisation (Ministry of Finance) and the Department of Posts. 

The theme of this year’s Postal Savings Banks Forum will be "The rising force of postal banking in the retail banking market".

The role of postal operators in the world of retail banking is often overlooked. Post Offices worldwide hold 1.6 billion savings and deposit accounts. This is second only to commercial banks, which hold about 2.5 billion accounts. Thus, post offices are critical to the pursuit of financial inclusion, which is recognised today as a vital pre-requisite to socio-economic development.

The Universal Postal Union estimates that several hundred million people, often without an account, use the Post to make and receive basic payment transactions such as domestic and international transfers, government payments and utility payments. Postal operators, in all their activities, have always relied on a business model based on large volumes and low costs. Combined with the universal service obligation through which the State gives the mandate to the Post to serve the entire population, these specific features make the Post a worthwhile ally in the fight against financial exclusion.
 

Financial inclusion brought about through the postal network is called postal financial inclusion. India has about 1.55 lakh post offices, which is more than the combined branch strength of commercial banks (about 1 lakh). The number of savings accounts held in post offices in India is about 31 crore, which is more than that of any commercial bank in the country. The postal network possesses excellent cash management abilities and is trusted for its governance practices. Thus India seems to have the right mix of ingredients to deliver concrete results in postal financial inclusion. Hence the WSBI Postal Savings Bank Forum is of considerable interest to the Banking Sector in India.

PIB