POST BANK OF INDIA

Eventhough full details of the proposed Post Bank of India is not made public, it is learnt that

(1) Post Bank will be a public sector Bank under the control of Department of Posts as a subsidiary organization. It will function as a Bank separately, just like any other public sector Banks. All Banking Rules and Regulations will be equally applicable to Post Bank also.

(2) Recruiting personnel for running the Bank will be done in the same manner as being done by public sector Banks. Open market recruitment will be made. Existing Postal Employees will not be considered for appointment in the Post Bank.

(3) The Post office Savings Bank will remain as it is and do business as is being done now. Post Bank will be a separate entity.

(4) Full details are yet to be published.

(M. Krishnan)

General Secretary