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Wednesday, March 17, 2010

Postal Department Invited Request for Proposal for Study to Design a Roadmap for Establishing Post Bank Of India (PBI)

Dear Comrades,
Postal directorate invited Request for Proposals (RFP) for Study to design roadmap for establishing Post Bank of India (PBI) from a reputed Indian/Foreign Study and research institutions having rquisite experience in banking and finance. The stimated cost of the study is Rs.50 Lakhs.A Post Bank of India Committee chaired by the then Member (O&M) Dr. U. Srinivasa Raghavan was constituted in 2005, which submitted its detailed report visualizing PBI as a subsidiary commercial bank of Department of Posts that would provide customer friendly products and services and fill the gaps in POSB product portfolio including facility to avail loans, flexible accounts, etc. which is not available in POSB. Subsequently, another Committee headed by Ms. Yesodhara Menon, the then CPMG, Andhra Pradesh Circle formed in December 2006 to study the feasibility report submitted by the first Committee and look into other factors linked to creation of PBI. The Menon Committee submitted its report in March 2007 with the conclusion that PBI has to be established. It has suggested Phase-wise Approach having three phases from learning/growing phases to full-fledged bank phase.These reports are quite elaborative and look deep into the possibilities of setting up a Post Bank. However, still there are many issues such as Post Office Small Savings Schemes & Post Bank together or otherwise, provision of seed money for PBI, organizational structure of PBI, PBI relationship with Post Office, etc. which need to be addressed for establishing a Post Bank. Hence, it is of utmost importance that a professionally designed roadmap is prepared addressing all these issues including other aspects as well. Keeping this in view, it has been considered to engage a reputed professional institute to carry out a study for preparing a roadmap to create PBI. For full text of the RFP please click the belo link and down load.

I request Federation and CHQ Please look in to the matter.

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