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 official 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
SIBAL HOLDS ROUND TABLE CONSULTATIONS ON PARTNERING INDIA POST: 2012 AND BEYOND:
Sh. Kapil Sibal, the Union Minister of Communications and Information Technology held a Round Table Conference here today with the stakeholders to deliberate upon "Partnering India Post: 2012 and Beyond". Opening the deliberations Shri Sibal said that this conference has been organized to enable this national asset to play a bigger and effective role in the socio and economic development of the nation. The deliberations will help understand the areas, methods and challenges for developing a symbiotic and long term relationship between India post and key stakeholders. This will also help department of posts to develop the future business model and its integration with the technological architecture of India post 2012 project - an ambitious programme of computerizing and digitally connecting the entire postal network which is likely to further strengthen our potentials and the capabilities.
Key Stakeholders from Banking/ Insurance/ Telecom/ FMCG/ IT/ e-Commerce/ Logistics/ Publications/ Financial Institutions/ Government Ministries & Departments/ Industry Associations/ Academic sector participated in the Round Table conference and engaged into discussions to give shape to the India Post 2012 Project and explore strategic tie-ups with India Post as follows:-
- Public sector banks for retailing of loan products, mutual funds and other new age financial products including micro-insurance, micro-lending, livelihood linkages, pensions, and remittances etc.
- E-commerce portals.
- Logistics for semi-urban and rural areas for consumer or FMCG goods.
- Logistics for print media companies or distance education universities / institutions.
- Central Government Ministries and State Governments for data collection services, delivery of social security schemes like MGNREGS, NRHM etc through Post Office system.
India Post 2012 Project aims at transforming Department of Posts into a "Technology Enabled, Self Reliant Market Leader." This translates into 5 initiatives covering increased market share and revenues, new products and services, improved services delivery, motivated workforce and rural development.
India Post with its vast network of 1.5 lakh Post-Offices and the huge bouquet of services including mails, logistics, finance, deposits, insurance, savings and retailing, have the potential to play an extremely vital role in accelerating economic growth.
The participants from across the industry sectors put forth a number of ideas for symbiotic strategic tie-ups, beneficial for both India Post and business partners which were duly appreciated by Shri Kapil Sibal, Hon'ble Minister of Communications and Information Technology, Government of India making the Round Table conference a success. Shri Sachin Pilot, Hon'ble Minister of State for Communications & IT, Government of India summarized the deliberations of the round table conference at the end of the conference.
Concluding the deliberations the Minister of State for Communications and IT, Shri Sachin Pilot said that today's consultations show that Department of Posts belongs to all. This should be a beginning for new endeavours, financial inclusion and opportunities for rural masses.
About seventy representatives of various Departments, PSUs, Banks and corporate world participated. Secretary, Department of Posts and senior officers of the Department were also present.
Source: PIB Release, July 4, 2011
NEW LAW FOR THE RIGHTS OF PERSONS WITH DISABILITIES
Ministry of Social Justice & Empowerment
New Law for the Rights of Persons with Disabilities
The Committee appointed by the Ministry of Social Justice and Empowerment, Government of India, to draft a New Legislation replacing the existing Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995, presented the final draft of the new law, "The Rights of Persons with Disabilities Bill, 2011", to Shri Mukul Wasnik, Minister for Social Justice and Empowerment. The proposed law seeks to repeal the Persons with Disabilities Act of 1995 and to replace it with a comprehensive rights based law in accordance with the provisions of the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD).
The Persons with Disabilities Act, 1995 was proposed to be replaced by a new legislation by the Ministry in the light of the experience gained in the implementation of the Act, developments that have taken place in the disability sector over the years, and also the commitments under the UNCRPD.
A Committee under the Chairpersonship of Dr.(Mrs) Sudha Kaul, Vice Chairperson, Indian Institute for Cerebral Palsy, Kolkata, and consisting of experts and representatives of stakeholders including Central Ministries, State Governments, Civil Society Organisations and experts, including persons with disabilities, was therefore, set up by the Ministry of Social Justice and Empowerment on 30.4.2010 to consider various suggestions and views and to draft a comprehensive law.
Source: PIB