Kaveri Banarjee, Secretary (Posts)
Dear Colleagues,
You would have read or heard through media reports about the Department of Posts getting an in-principle approval for setting up our own Payments Bank. This has generated a lot of excitement in the financial markets, and around the country.
2. As you know, Post Banks around the world have been very successful. So we can also look forward to regaining our position as a leading financial institution, while furthering the Government of India’s objective of financial inclusion. You may also have noted how technology has changed the way how financial transactions are done. Riding on our ongoing IT Modernisation Project, therefore, the Payments Bank will enable us to leverage our vast distribution network, while introducing new and better financial products and services in keeping with market demands. As the customer interface of the Post Bank, our Post Offices must play a leading role in reaching out to the unbanked and under-banked sections of society, and towards making the Post Bank the preferred bank of the common man.
3. In the months ahead, as we gear up to set up the Payments Bank, I count on each and every member of India Post to pitch in, with commitment and zeal, towards carrying this initiative forward. Let us put in our whole-hearted efforts to make the Post Bank of India a success!
