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Showing posts with label CBS. Show all posts
Showing posts with label CBS. Show all posts
17 January 2014
16 March 2013
POST BANK OF INDIA
India Post readies plan to start bank
The postal department has appointed Ernst & Young as consultant for the project and based on the detailed project report, it will approach the Union cabinet for a final go ahead.
NEW DELHI: The Reserve Bank of India having opened the window for new bank licences, the postal department is finalizing the blueprint to set up a bank of its own at yourneighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India.
While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of around 5.5 lakh crore, it is expected to set up a new entity that will function as the bank. Transferring the existing deposit base to the bank or converting the entity into a bank will entail an initial capital base of around Rs 55,000 crore to meet RBI's requirement, which the government will find difficult to provide. So, the proposed bank will start with the minimum capital requirement of Rs 500 crore, said a source familiar with the development.
25 February 2013
Coming soon, Post Bank of India
The postal department plans to enter the banking business with the Reserve Bank of India deciding to grant new bank licences to entities with credible track-record.
Consultant appointed
Sources said the Department of Posts, which has a strong foot print in rural areas, has appointed Ernst and Young (E&Y) as the consultant for the proposed ‘Post Bank’
“Ernst and Young is expected to submit a detailed project report by April, after which all the necessary measures will be taken up to apply for banking licence,” a source at the Ministry of Communications and Information Technology told PTI.
The sources added that the Department of Post (DoP) might need Cabinet approval for setting up Post Bank of India.
Of the 1.55 lakh post offices in the country, around 24,000 district offices may be ready to offer banking services in the next two years.
The DoP is in process of setting up 1,000 ATMs.
“Post Bank shall not only take care of the banking needs of the rural poor but shall also converge with micro-insurance and micro-remittance services of the DoP,” the source said.
As per data shared with Parliament, there were over 26 crore operational small savings accounts in post offices as on March 31, 2012, having deposits worth Rs.1.9 lakh crore.
Courtesy – The Hindu, 23rd Feb, 2013
Consultant appointed
Sources said the Department of Posts, which has a strong foot print in rural areas, has appointed Ernst and Young (E&Y) as the consultant for the proposed ‘Post Bank’
“Ernst and Young is expected to submit a detailed project report by April, after which all the necessary measures will be taken up to apply for banking licence,” a source at the Ministry of Communications and Information Technology told PTI.
The sources added that the Department of Post (DoP) might need Cabinet approval for setting up Post Bank of India.
Of the 1.55 lakh post offices in the country, around 24,000 district offices may be ready to offer banking services in the next two years.
The DoP is in process of setting up 1,000 ATMs.
“Post Bank shall not only take care of the banking needs of the rural poor but shall also converge with micro-insurance and micro-remittance services of the DoP,” the source said.
As per data shared with Parliament, there were over 26 crore operational small savings accounts in post offices as on March 31, 2012, having deposits worth Rs.1.9 lakh crore.
Courtesy – The Hindu, 23rd Feb, 2013
Bank Account Number Portability: Lok Sabha Q&A
The Committee on Customer Service in Banks constituted by the Reserve Bank of India (RBI) under the Chairmanship of Shri M Damodaran, had recommended intra-bank Account NumberPortability stating that the customer should also be allowed to maintain the same account numberin a bank even when he / she moves to another city or shifts his account to another branch in the same city. This recommendation has been accepted by the Indian Banks Association for implementation and RBI issued guidelines in this regard vide a circular dated April 27, 2012 whereby the banks have been advised that opening of fresh account and the Know Your Customer (KYC) fulfillment at another branch of the same bank is not required if full KYC was already done. Further, in order to safeguard the interest of the banks and the customers, RBI has advised banks for allotting Unique Customer Identification Code (UCIC) to all their individual customers in a time-bound manner.
RBI also constituted a “Technical Committee to examine uniform routing code and account number structure”, which also examined the matter regarding inter-bank portability of theaccount number. The Technical Committee is of the view that account number portability may not be feasible even with the implementation of International Bank Account Number (IBAN) because of the two constraints, i.e. (i) Bank code is an integral part of IBAN and as such, it does not facilitate account number portability across banks (ii) even if portability of the account number is considered without the bank code, it would give rise to a scenario where the saidnumber may already be allotted to other customer of the destination bank. RBI has hosted the Report of the Technical Committee on its website www.rbi.org.in for public comments.
The above information was submitted by Ministry of Finance in reply of undermentioned Lok Sabha Question:-
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO 111
ANSWERED ON 22.02.2013
ACCOUNT NUMBER PORTABILITY
111. Shri ANAND PRAKASH PARANJPE
EKNATH MAHADEO GAIKWAD
N.S.V. CHITTHAN
Will the Minister of FINANCE be pleased to state:-
(a) whether the Government / Reserve Bank of India (RBI) has constituted any panel / committee to look into the possibility of account number portability through a unique number for each customer across the country;
(b) if so, the details thereof;
(c) whether the said panel/committee has submitted its report to the Government;
(d) if so, the recommendations made by the said panel / committee and the reaction of the Government thereto; and
(e) the time by which the recommendations made by the panel / committee are likely to be implemented?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (e): see above
***
Source Link: http://164.100.47.132/LssNew/psearch/QResult15.aspx?qref=134940
via : http://karnmk.blogspot.in/
RBI also constituted a “Technical Committee to examine uniform routing code and account number structure”, which also examined the matter regarding inter-bank portability of theaccount number. The Technical Committee is of the view that account number portability may not be feasible even with the implementation of International Bank Account Number (IBAN) because of the two constraints, i.e. (i) Bank code is an integral part of IBAN and as such, it does not facilitate account number portability across banks (ii) even if portability of the account number is considered without the bank code, it would give rise to a scenario where the saidnumber may already be allotted to other customer of the destination bank. RBI has hosted the Report of the Technical Committee on its website www.rbi.org.in for public comments.
The above information was submitted by Ministry of Finance in reply of undermentioned Lok Sabha Question:-
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO 111
ANSWERED ON 22.02.2013
ACCOUNT NUMBER PORTABILITY
111. Shri ANAND PRAKASH PARANJPE
EKNATH MAHADEO GAIKWAD
N.S.V. CHITTHAN
Will the Minister of FINANCE be pleased to state:-
(a) whether the Government / Reserve Bank of India (RBI) has constituted any panel / committee to look into the possibility of account number portability through a unique number for each customer across the country;
(b) if so, the details thereof;
(c) whether the said panel/committee has submitted its report to the Government;
(d) if so, the recommendations made by the said panel / committee and the reaction of the Government thereto; and
(e) the time by which the recommendations made by the panel / committee are likely to be implemented?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (e): see above
***
Source Link: http://164.100.47.132/LssNew/psearch/QResult15.aspx?qref=134940
via : http://karnmk.blogspot.in/
30 March 2012
Total CBS Ver 1.0/01.03.2012 (Sanchay Version) FROM MYSORE HPO
Dear All
This is w.r.t. launch of the new tool "TOTALCBS" (Sanchay Version). Throgh this tool you can compare HO Sanchay Balance & SO Sanchay Balance & generate discrepency report . This tool is useful for those where V2 SBCO is not in use or where V2 SBCO is not updated. This will also help the inspecting authorities/CBS Team/HO to check the correctness of the balances maintained at HO & SO. As this years interest statement is fast approching this tool is released. Kindly use the software and give your valuable feedbacks.
Thank you All
Muralidhar Y.R
Instructor WCTC Mysore - 20
SA, Mysore HPO
cbstotal@gmail.com
Total CBS Ver 1.0/01.03.2012 (Sanchay Version)
Total CBS
(HO Sanchay & SO Sanchay Balance Comparition Tool)
21 March 2012
ECS for Salary through Banks & POSB
ECS for Salary through Banks & POSB
This software generates files based on Pay Bills & GPF Sanctions for payment through Banks & POSB. The files pertaining to Banks can be sent to NCH and those pertaining to POSB can be imported into Sanchay Post.
Software Package (zipped)
Document (pdf)Last updated on: 20-03-2012
Email issues related to this software to sblansupport@hotmail.com
Source :
Software Development Centre
O/o the Chief Postmaster General
Tamilnadu Postal Circle
Chennai - 600002
Phone: 044-65850861
O/o the Chief Postmaster General
Tamilnadu Postal Circle
Chennai - 600002
Phone: 044-65850861
31 January 2012
Postal dept works towards bank permit
The department of posts will formulate a detailed project report for setting up a bank, in the XII Plan.
“The postal department has already conducted a study and has found that the proposal is feasible. DPR (detailed project report) is the next step to chalk out the exact blueprint for the model,” a senior official from the department of posts (DoP) told Business Standard.
The department will apply for a banking licence from the Reserve Bank of India. Post Bank of India may be set up with the required authorised capital of Rs 700 crore, the official added.
“The postal department has already conducted a study and has found that the proposal is feasible. DPR (detailed project report) is the next step to chalk out the exact blueprint for the model,” a senior official from the department of posts (DoP) told Business Standard.
The department will apply for a banking licence from the Reserve Bank of India. Post Bank of India may be set up with the required authorised capital of Rs 700 crore, the official added.
20 August 2011
05 July 2011
Post offices to offer core banking solution by next year:
In a major exercise to boost its profitability, the Department of Posts (DoP) plans to introduce core banking solution besides setting up India Post ATMs and debit cards for its customers.
"We have set target of bringing in core banking solution by 2012. It will ensure smooth online transactions. We are giving some e-payment services, but they are fragmented," a top offical from Department of Post said.
He added that the work for setting up 1,000 India Post ATMs was in advanced stage and DoP had already held parleys with vendors on this front. "We will also issue debit cards to our existing savings account-holders," the source added.
The DoP is tying up with banks so that customers can use their India Post debit card at any ATM machine pan-India. With a network reach of over 1.44 lakh post offices, DoP hopes to transform itself into a post bank.
"Yes, this is very much possible. We are offering three-fourth of a bank's services and have the widest reach. The infrastructure is almost ready. In fact, we have given this proposal to the Ministry of Finance and are waiting for its comments," he added.
The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements prompted government to establish a post bank. "The aim of establishing a post bank is to provide banking services to the rural poor who still do not have modern banking facilities and still have to depend on informal sector for their credit requirements," he said.
The Planning Commission had allocated Rs 5 crore during the 11th Plan period towards this purpose under the head of 'studies and miscellaneous expenditure relating to setting up of Post Bank of India'. The DoP with its huge network already provides various financial services, including a post office savings bank, postal life insurance, pension payments and money transfer services.
Source: moneycontrol.com. July 4, 2011
20 April 2011
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