Postal department invited Expression of Interest from the Bidders to submit detailed Project report to Create Post Bank Of India. The last date for submitting the applications are 24/05/2012 and the bids will be opened on 25/05/2012. In the tender document it is clearly mentioned the objectives for setting up the Post Bank Of India are as follows:
(i) Provide banking which means the accepting, for the purpose of lending or investment, of deposit of money from the public, repayable on demand or otherwise, and withdrawal by Cheque, draft, order or otherwise. PBI will be engaged in various types of banking as mentioned in Section 6 of the Banking Regulation Act, 1949.
(ii) Provide banking services with special focus on rural areas.
(iii) Provide means of additional revenue generation for the DoP .
(iv) Ride on the Core Banking Solution which is proposed to be provided in all the post offices.
(v) Provide a platform for financial inclusion.