India Post to shake Nationalised Banks and Indian Banking industry

                                      The initiative of India Post to connect Post Offices through Core Banking Solution will shake the banking industry shortly.  Even though Post offices are doing Small saving activities as an agent of Ministry of Finance, they have the potential in terms of deposit backings, wide network across the country and strong employee support to shake the industry.

Post Office Savings Bank (POSB) which is called as Poor’s Bank has the major share of Deposits in India compared to any other banks.  Since India Post is a government Institution working without profit motive, getting the exact figures of deposits and number of account was difficult compared to full-fledged banks with corporate entity.  So till now the actual figure were unknown to everyone.

Now the scenario has been changed when Post Offices started getting migrated to Core Banking Solution.  When a Post Office gets migrated, the exact figures of number of accounts and total deposit amount will be generated.  Through this figures everyone can see the strength of Post Office Saving Bank in India.

India Post successfully migrated its first office to Core Banking in December 2013. Like any others big public sector and private sector banks, India Post is using Finacle, the leading Core Banking Solution from Infosys for their banking renovation.  Now India Post is near to reach its first milestone of 1000 CBS Post Offices in India and expecting this by December 2014. Till 27.11.2014 total of 961 Post offices have been migrated to CBS platform.

India Post is planning to include 25000 plus Post Offices in Core Banking network with in few years.  By this mission all the departmental Post Offices will come under this CBS category Post Offices.  Now itself all these offices are computerised and they are doing banking transactions using Sanchay Post software. Even if we take number as 25000, the figure is not at all a small one when compared to other big nationalised banks.

As per the Annual Report 2013-14 State Bank of India has only 16069 branches including 15869 domestic branches and 190 foreign branches. If we include the branches of Associate banks too, a count of about 5700 more branches will be added to this list.  Even after adding the associate banks to this list SBI have only 21769 branches across the world.  The second largest public sector bank is Punjab National Bank.  They are following far behind with only 6206 branches (6201 domestic branches and 5 foreign branches)

If we take the amount of deposit as criteria, India Post will again be the number one in the industry.  Only 961 Post Offices have been migrated to Core Banking till 27.11.2014, but the value of deposits in these migrated offices crossed Rs. 87204 Crores.  Total of5.51 Crores account have been migrated to this new platform.   This is from only nearly4% of total Post Offices to be migrated to Core Banking.  If we take the proportionate figure, deposits will surely cross 20 Lakh Cores rupees after migration of all computerised Post Offices.  State Bank of India have only deposit of rupees 13.94 Lakh Crores as per annual report 2013-14.  Number of branches and total deposit value of major nationalised banks are shown below for comparative analysis.

SL NO	Name of Banks	No. of CBS branches (as on 31.03.2014)	Total Deposit ( in Crores)
1	India Post (POSB)	*25000	*22,68,574
2	State Bank of India	16069	13,94,409
3	Punjab National Bank	6206	4,51,397
4	Bank of Baroda	5062	5,68,894
5	Canara Bank	4755	4,20,723
6	Bank of India	4671	4,78,695
7	Central Bank of India	4336	2,40,069
8	Syndicate Bank	3251	2,12,343

                       

                     * Expected numbers after migration

Commercial banks are attracting customers by giving value added services like ATM, Debit/Credit cards, Internet Banking, mobile banking, etc. Now most of the people are depending banks for such needs. In order to compete with commercial banks or for attracting new customers or giving more value to their account holders, India Post started various value added services like Internet Banking, ATM, etc. Now the ATM facility is introduced in limited areas but the Department of Post is planning to install 2800 ATMs by the end of 2015.

By the end of 2015 CBS network of India Post may be connected to other banking networks and thereby a Post Office customer can make use of all the facilities (except loans) now a commercial bank customer can enjoy.  If the value added services of India Post is a success, surely it will lose the customers of commercial banks. And in such circumstances people in the rural areas will not approach Banks, normally located in urban or semi-urban areas for transacting in SB accounts.  Now Savings Bank account in Post Office are not attractive only because of lack of availability of value added services like ATM, Debit cards, net banking,etc.  Now Department of Post is taking all efforts to fill this gap occurred in the past. 

Finally expecting that today’s technological renovation of India Post will surely shake Indian Banking industry in near future in various ways.  Let us wait and see.

New RBI guidelines: India Post’s long wait to become a bank may be finally over - NEWS

                                    The final guidelines on differentiated banks, spelled out by the Reserve Bank of India (RBI) on Thursday, has paved the way for India’s postal department to fulfill its long-cherished dream of wearing the hat of a banker.

India Post is now likely to apply to become a small finance bank, according to a senior department official.

‘Certainly, it (the guidelines for small and payments banks), looks interesting,” the official told FirstBiz on condition of anonymity. The department will conduct a feasibility study and will take a final call on the matter, the official said.

On Thursday evening, the RBI announced the final rules for payments banks and small banks. Payments banks can engage in accepting small deposits, offer ATM/debit cards, payments and remittance services through various channels and offer financial products like mutual fund units and insurance products.

Small finance banks, on the other hand, are almost like full service commercial banks. But, these banks cannot engage in large value transactions since 75 percent of their loans must be lent to the so-called priority sector. For existing banks, this requirement is 40 percent. Also, at least 50 percent of their loan portfolio should constitute loans and advances of up to Rs 25 lakh.

What is means is majority of the loans of smaller banks must be lent to agriculture, micro-credit and other weaker sections.

But small banks have plenty of headroom to actively compete in the home loan and SME loan segments with other banks, even within this limit.

A small bank permit makes more sense to India Post than becoming a payments bank since the department has long cherished the dream of a lender.

The Postal department, which was among the 25 contenders for a full service banking licence last year, didn’t manage to get into the final list since the UPA-government wasn’t keen to support the move and refused to provide the department with the minimum capital required to set up a commercial bank.

But the government is unlikely to deny the chance to India Post this time since small finance banks will not deal in large value credit transactions.

Since the new set of banks will primarily operate among the unbanked and weaker sections, risks arising out of large-value corporate loans are limited.

Also, capital is unlikely to become a problem since under the new guidelines, both small banks and payments banks need an entry capital of Rs 100 crore, as against Rs 500 crore needed for full service banks.

According to the RBI guidelines, small finance banks can gradually grow to a full service commercial bank if the apex bank finds merit in the proposal.

Big boost to financial inclusion

India Post has all along argued that the department’s entry to banking can contribute massively to the cause of financial inclusion, or the process of spreading banking services to the unbanked population of the country, using its vast network of 1,55,000 post offices.

Of its total network, about 1,39,040 are in rural areas. Going by a 2011 estimate of the postal department, about 6,000 people are covered on average by post-offices in rural areas and about 24,000 in urban areas.

Through its various saving schemes, Postal department handles deposits to the tune of Rs 6,00,000 crore.

As First Biz noted earlier, India Post’s entry into banking can be game changer in rural banking given the massive reach of Post in the far-flung areas of the country and local knowledge.

The department has already commenced the process to link all its branches through technology, besides setting up ATMs across the country.

Last year, while issuing licenses to IDFC and Bandhan, the RBI had observed that India Post can be given banking licence if government, technically the promoter of the proposed Post bank, gives its nod.

MASSIVE PARLIAMENT MARCH ON 4TH DECEMBER, 2014 AT NEW DELHI

INFORMAL MEETING

இருமாதங்களுக்கு ஒரு முறையிலான பேட்டி முடிந்த வுடன்  PMG, SR  அவர்களுடன் மாலையில்  INFORMAL  MEETING  சுமார் 1.30 மணி நேரம் நடை பெற்றது. இதில் மாநிலச் செயலர்  தோழர். J .R . அவர்களும் மதுரை அஞ்சல் மூன்று கோட்டச் செயலர் தோழர். S . சுந்தரமூர்த்தி அவர்களும் கலந்துகொண்டார்கள்.  பேட்டி சுமூகமாக நடைபெற்றது.. 

தென் மண்டலத்தில்  ஊழியர்கள் பிரச்சினைகளில் முழு அக்கறை காட்டப் படும் என்றும் , நிர்வாகத்துடன்  தொழிற் சங்கத்திற்கு சுமூக உறவு வேண்டும் என்றும்  PMG, SR  அவர்கள்  வேண்டினார்.

இதில் பேசப்பட்ட பிரச்சினைகள் :-

1. மதுரை கோட்டத்தில் தேங்கிக் கிடக்கும் பிரச்சினைகள் ஏற்கனவே மாநிலச் சங்கத்தால் எழுத்து பூர்வமாக கொடுக்கப்பட்டுள்ளது. அவைமீது உரிய நடவடிக்கை உடன் எடுக்கப்படும். 

மதுரை கோட்டத்திற்கு புதிதாக பொறுப்பேற்றுள்ள முது நிலைக் கண்காணிப்பாளருக்கு இது குறித்து அறிவுறுத்தப்படும். கோட்டச் செயலர்  உடன் SSPஐ  சந்தித்து பிரச்சினைகள் குறித்து பேசிட  அறிவுறுத்தப் பட்டுள்ளார்.

2.  திண்டுக்கல் தலைமை அஞ்சலக அலுவல் நேரம் மாற்றப்பட்டது  திரும்பப் பெற வேண்டும்.

உடன் இது குறித்து  கோட்ட முது நிலைக் கண்காணிப்பாளருக்கு  அறிவுறுத்தப் படும்.

3.  திண்டுக்கல் கோட்டத்தில்  அக்டோபர் மாதமே  அறிவிக்கை செய்யப் பட்டுள்ள முறைகேடான RT  -2015 ரத்து செய்யப் பட வேண்டும்.

இந்த உத்திரவு அமல் படுத்தப்பட மாட்டாது.  முது நிலைக் கண்காணிப்பாளர் அறிவுறுத்தப் படுவார்.

4. மதுரை கோட்டத்தில்  நீண்ட நாள் கோரிக்கையான  தோழர். செல்லத்துரை , PM  GRADE  I   இடமாற்றம்  குறித்து 

அவரது விண்ணப்பம் பரிசீலிக்கப் பட்டு விரைவில் சாதகமான உத்திரவு அளிக்கப் படும்.

5. தேனீ கோட்டத்தில்  ஒரு சில ஊழியர்களுக்கு முறை கேடாக அளிக்கப்பட்டுள்ள அதீதமான சலுகைகள்  குறித்து .

இது குறித்து விசாரணை மேற்கொள்ளப்பட்டு  உரிய நடவடிக்கை எடுக்கப் படும்.

6. தேனீ கோட்டத்தில்  பழுதடைந்த்ள்ள  PRINTER  மற்றும் கணினி உப பொருட்கள் மாற்றம் செய்திட வேண்டும்.

உடன் இது குறித்து அறிக்கை பெற்று , PERIPHERALS  புதிதாக வழங்கிட நடவடிக்கை மேற்கொள்ளப் படும்.

INCENTIVE

புதிதாக அறிமுகப் படுத்தப் படும் வணிகப் பணிகளுக்கு , அதற்கான TIME FACTOR  வகுக்கப் படாததால்  , அந்தப் பணியைப்  பார்ப்பதற்கான AGENCY COMMISSION இல் 25% அதில் பணியாற்றும் ஊழியருக்கு வழங்கிட  வேண்டும்  என்று ஏற்கனவே நாம் உத்திரவு பெற்றதை பலமுறை  நம் வலைத் தளத்திலும் , சுற்றறிக்கையிலும் தெரிவித்திரு ந்தோம் . ஆனாலும் இதுவரை 

நம் தமிழ் மாநிலத்தில் ஒரு கோட்டத்தில்  கூடஇதற்கான பில்   போடப் பட

வில்லை  என்பது வருத்தமே .

தற்போது EB BILL பெற்றிட  ஒரு  BILL க்கு  ரூ. 10.00 கமிஷன்   எனில்   இதில் 25%  என்பது  ரூ. 2.50 ஆகும்.   MPCM COUNTER CLERK கிற்கு ரூ. 2.00 ம்  SUPERVISORக்கு  ரூ. 0.50 ம் INCENTIVE  ஆகப் பெறமுடியும். இதனை படித்த பிறகாவது  உடன் பில் போட அனைத்து கோட்டங்களிலும்  அறிவுறுத்தவும்.

Courtesy : http://aipeup3tn.blogspot.in/2012/05/blog-post_25.html

Commencement of Booking of New Holiday Home at Madurai with effect from 1.12.2014

One more new and fresh Holiday Home has been commenced at Madurai for Central Government Employees and Officers. As per the notification issued by the Directorate of Estates, arrangements started for advance booking for 20 suites in the heart of the Temple City Madurai.

Madurai is the third largest city in Tamil Nadu. It is the second largest city and urban agglomeration in the Indian state of Tamil Nadu, after Chennai and the sixteenth largest urban agglomeration of India.

The booking office is located at Plot No. C.1, Tamil Nagar, Koodal Pudur, Anaiyur (P.O.), Madurai, Pin – 625017 (Tamil Nadu) and the online booking also started from 1st December 2014. Contact numbers for the ‘Madurai Holiday Home Booking Office’ is 0452-2661891 and 2661892.

Accommodation details…

Ist Floor – 102 & 101(VIP AC Suite), 104, 105, 106, 107, 108, 103 – 8 Rooms are available

2nd Floor – 201 & 202(VIP AC Suite), 203, 204, 205, 206 – 6 Rooms are available

3rd Floor – 301, 302, 303, 304, 305, 306 – 6 Rooms are available

All other rooms are furnished with Double Bedded AC Room

Total rooms are available 20 including VIP Suites.

(Note; Room No. 102 (VIP) and Room No. 104 & 105 will be under Emergency Quota)

For Original Directorate Order, Click here

And more details of Holiday Homes for Central Government Employees and Officers, Click here

Source: 7thpaycommissionnews.in

                            UNION G_B MEETING

Dear Comrade,

          OUR UNION GB HELD AT THENI MDG 

          ON 30.11.2014/1500 Hrs.

          Pl. ATTEND WITHOUT FAIL.

Central govt employees to file assets details by December 31: Govt

Central govt employees to file assets details by December 31: Govt

Written By Admin on November 27, 2014 | Thursday, November 27, 2014

New Delhi: All central government employees have to file the details of their assets and liabilities along with that of their spouses and dependent children as mandated under the Lokpal Act by December 31, the Lok Sabha was informed on Wednesday.

As per the rules notified under the Lokpal and Lokayuktas Act in July this year, every public servant who has filed declarations, information and annual returns of property under the provisions of the rules applicable to such public servants shall file the revised declarations as on August 1 to the competent authority on or before September 15.

The provision of the said rules has subsequently been amended by which the time limit for furnishing of such information or return by public servants has been extended till December 31, Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh said in a written reply.

The declarations under the Lokpal Act are in addition to similar ones filed by the employees under various services rules.

All Group A, B and C employees are supposed to file a declaration under the new rules. There are about 26 lakh employees in these three categories, as per latest government data.

The Personnel Ministry has also issued new forms for filing these returns which have fields for mentioning details of cash in hand, bank deposits, investment in bonds, debentures, shares and units in companies or mutual funds, insurance policies, provident fund, personal loans and advance given to any person or entity, among others.

The employees need to declare motor vehicles, aircraft, yachts or ships, gold and silver jewellery and bullion possessed by them, their spouses and dependent children.

        

 மாதந்திர பேட்டியின் நகல்

                                            உங்கள் பார்வைக்கு

                              (for October 2014)

                                                    Old items

1/12-   Shifting of Pannaipuram SO to better building (or) dequarterisation of the

            Present building

1/13-   Down gradation or Relocated of Venniar Estate SO

4/13-   Early reopening of one of the temporarily merged NDSO with

            Bodinayakanur municipal limit

12/13- Grant of OTA to having shortage of staffs and heavy work load

            in class A,B,C offices

32/13- Up gradation of Gudalur ‘B’ class to ‘A’ class SO

34/13- Early repair of Bore well at Bodinayakanur Ho

43/13- Bore well facility to be provided at Theni MDG

48/13- Printer fault at Periakulam accounts branch due to improper earth lines

57/13- Extension of cycle shed at Bodinayakanur HO

71/13- Early repair at UPS,Genset faulty offices

2/14-   Attached to nationalized bank for Kadamalaikundu SO for the purpose

            of heavy remittance

7/14-   Dequarterisation of Saptur SO

10/14- Replacement of old systems at LSG and ‘A’ class offices

11/14- AMC for Genset to all offices in Theni Dn.

14/14- Introduction of DMMS upto Periyarproject due to non plying of

            MMS at evening time.

15/14- Provide one more ladies toilet at Periakulam HO (restroom facility is

            not sufficient for ladies. Staffs who were waiting outside feel uneasy)

16/14- Provide cycle shed at Periakulam HO

17/14- Provide recreation room (two separately) at Periakulam HO for taking lunch

                                                New items

18/14- Delay in passing of case handling allowance at Pc patti, Allinagaram,     

            Bangalamedu and Tnagar SOs.

19/14- Supply new chairs at Periyakulam HO

20/14- Out sourcing may be utilized to Both HOs due to acute shortage of staffs. 

அன்பார்ந்த தோழர்களே ! தோழியர்களே!

               இந்த மாத மாதாந்திர பேட்டி 

          29.10.2014 அன்று நடைபெறுகிறது.

SUPPLEMENTARY INSPECTION QUESTIONNAIRE RELEASED TO INSPECTING AUTHORITIES FOR HO/SOs

SUPPLEMENTARY INSPECTION QUESTIONNAIRE RELEASED TO INSPECTING AUTHORITIES FOR HO/SOs

உங்களை ஆய்வு செய்ய வரும் அதிகாரிகளுக்கான ஆய்வுக் கேள்விகள் தயார் செய்து இலாக்கா அனுப்பியுள்ளது. நீங்களும்  அதற்கு ஏற்ப உங்களைத் தயார் நிலையில் வைத்திருக்க  இதனைப் படிக்கவும். 

         

    Department of Posts

      Inspection Division

Supplementary Inspection Questionnaire on iMO

1.    If the Post Office is Internet enabled. Whether iMO service is activated, If, not the reason thereof? 

2.    How many iMOs have been booked in Post Office? 

3.    Number of iMOs booked and paid be checked from vouchers/slips. 

4.    Whether KYC norms are adhered for iMO payment and proper procedure is followed at the time of booking/process of payment?

5.    Whether location of iMO is provided suitably for public convenience? 

6.    Whether publicity material relating to iMO service is visible in Post Office premises? 

7.    Whether regular training is conducted to operator/supervisor for smooth functioning of iMO software? 

8.    Whether any marketing activity to popularize iMO service among the public has been conducted by P.O? 

9.    Whether money order above Rs. 5000/- to be sent by the member of public has been booked under iMO?

10. Whether tariff of the iMO has been displayed prominently in the public hall for information of public?

Supplementary Inspection Questionnaire on International Money Transfer Service (IMTS)

Operative Guidelines Compliance

1.    Are proper signage about availability of IMTS Service is available at the location?

2.    Whether proper forms and stationery are used for paying IMTS transactions and are easily available?

3.    Date of last IMTS Transaction done (Separately for WU IMTS and MG IMTS)

4.    Whether the cash balance of the Post Office is able to meet the requirements of IMTS transactions‘payments? Are transactions paid immediately or is there any waiting time for want of cash?

5.    Is the staff aware of the Operational Guidelines, ie, permissible reasons for receiving remittance, limit of individual transaction amount, limit of paying the amount in cash, number of transactions permissible in a year, etc?

6.    Is the staff trained in operating the IMTS software?

7.    Is the system functioning properly? If not, since when not functioning and reasons for not making it active.

8.    Whether the TRM forms are got filled in completely from the customer? Random check of TRM forms used for paying transactions should be done. The TRM Form should invariably have the Receiver’s name and address

Sender’s  Name  and  Address  /  Country,  Unique  Transfer  No  (MTCN  /

Reference No), reason for remittance, relation with sender and amount expected fields filled up by the customer.

9.    Whether the correct format of the receipt is generated after the completion of the transaction and is attached to the documents related to the transaction records?

10.     If the location is a Project Arrow Office, are the details of IMTS transactions entered in the Meghdoot Software at the end of the day? If not, why?

Regarding AML compliance

1.    Whether all necessary up-to-date operational guidelines / Circulars on AML / KYC / CFT have been circulated to all the field units? 

2.    Is regular training / refresher courses being conducted by Circle for staff for the implementation of AML / KYC / CFT guidelines?

  

3.    Are regular checks for all field units being conducted to ensure the implementation of AML / KYC / CFT guidelines?

4.    Whether the compiled CTR / STR for IMTS are being sent by the Circle to DDG (PCO) on time? If not, reasons thereof.

5.    Is there a proper system put in place for proper maintenance and preservation of transaction records? Is this data retrievable easily and quickly whenever requested by competent authorities?

6.    Whether all documents / office records / memoranda pertaining to complex, unusual large transactions and all unusual patterns of transactions and purpose thereof are properly recorded and examined? Is a system put into place for preserving these records for a period of 10 years?

7.    Are specific literature / pamphlets for educating the customer on the objectives of KYC programme prepared by the Circle and used by the field units? 

Supplementary Inspection Questionnaire on Remotely Managed Franking Machines

1.    How many departmental RMFMs are currently in use in the office? Are the history sheets being maintained for each machine separately? The details of the machine be verified along with the record/history sheet of the expenditure incurred on each with respect of consumable, repairs etc.

2.    How many private RMFMs are registered with the office? The details be checked and see if they are on record.

3.    Review the revenue realized through the departmental franking machines during the last 3 years. Have adequate steps been taken for increase in revenue through the machines?

4.    Verify error book for both private and Departmental machines maintained for cancelled franked articles with reasons for cancellation since last inspection and error extracts are submitted to Divisional Office.

5.    Carry out random check of credits for four dates (one in each quarter) w.r.t. Register of RMFM and SO A/c and that the reading of the office RMFM is recorded on the requisition given by the treasurer/postmaster.

6.    Is that bar code scanning being adopted during uploading/crediting in RMFM? If not, the reasons be recorded.

7.    Examine the Register for the private RMFMs, see that the license is renewed in time and are current, check RMFM, Record Register, Ledger.

8.    Check 10 dispatches made by private RMFM holder w.r.t. daily docket during inspection.

9.    Whether MBC/BPC are insisting for production of SOM (Statement of mailing) along with article posted?

10. Are the prescribed checks being carried out by SPM/PM for correct postage as well as entries in the RMFM Register and that entry in RMFM register and ledger tally?

11. Check the register of EFMS with their validly date. See how many EFMS have been cancelled? 

12. Check how many departmental EFMS are in existence and their usage w.r.t. their history sheet records?

13. Verify the register of cancellation for RMFM.

14. Check the amount of notional credit for departmental RMFM.

15. Verify how many RMFMs are used on click charge basis.