Various PSU and Private sector banks slashed interest rate on Fixed deposit...Govt. allowed central staff to draw upto Rs 10 thousand in cash as advance salary..Banks, Post offices to report cash deposits of over Rs 2.5 lakh to I-T...Dearness Relief to Central Government pensioners/family pensioners from 1.7.2016 - Orders issued...Don't need ID copies to exchange old currency notes, says Reserve Bank of India ......WELCOME TO SAPOST ODISHA... ...

THE DEPARTMENT OF POST (DOP) IS LIKELY TO FINALISE THE CONSULTANT FOR ITS PAYMENT BANK BY THE END OF THIS MONTH.

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  • The DoP had shortlisted six consultants but only three of them have submitted bids.
  • The consultant will advise the Department on setting up of payment bank.

  • The consultants which have submitted their bids include KPMG, EY and Deloitte.
  • The Public Investment Board (PIB) is scheduled to consider tomorrow a Rs 800-crore proposal from DoP for setting up the bank.
  • After the PIB's approval, the proposal will be moved to Cabinet within a month. PIB under the Finance Ministry vets investment proposals by state-run entities.

  • The pilot for payment bank is set to start from January 2017 while full-fledged operations may start by March 2017.
  • As many as 40 international financial conglomerates, including World Bank and Barclays, have shown interest to partner with Postal Department for the payment bank.


"We are doing the technical evaluation which will be completed by January 22 and by the end of this month, tender will be awarded," an official in DoP told PTI.





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