The Prime Minister's Office has taken a review of the Department of Posts with special focus on the implementation of proposals submitted by a Task Force on leveraging the DoP's post office network. The PMO held a meeting with senior officials last week and discussed the action taken by DoP so far regarding setting up of the Payments Bank, e-commerce initiatives and modernisation of its IT infrastructure.
According to sources, the PMO is monitoring the progress made by DoP to improve its functioning and utilising the vast network of post offices across the country for financial inclusion. Regarding the Payment Bank, the DoP in its action taken report to PMO said the Public Investment Board (PIB) in its meeting held on January 19 discussed the `800-crore proposal and is awaiting PIB's response.
“The recommendations of PIB shall thereafter be placed before the Cabinet for final approval. Meanwhile, the Department is in the process of engaging a consultant for assisting it in setting up the India Post Payments Bank; three bids were received by January 8, 2016 and are currently being evaluated,” DoP said.