1000 ATMs to be set up at post offices: Sibal

Last Updated: Friday, May 11, 2012, 14:44

The Department of Post plans to set up 1000 ATMs at post offices and convert them into banks for taking core banking to unbanked population using the vast postal network.

Govt announces issue of special bonds worth Rs 7,000 crore

Last Updated: Wednesday, April 11, 2012, 23:04

The government on Wednesday announced issue of special floating rate bonds worth Rs 7,000 crore.

Akola PO clerk gets seven-year jail for fruad

Last Updated: Thursday, April 5, 2012, 15:34

A Post office clerk was sentenced to seven years rigorous imprisonment by a Akola court in a fraud case.

Encourage formal saving instruments more than gold: Assocham

Last Updated: Thursday, March 1, 2012, 19:13

The government must encourage investors to utilise other financial options to help boost the economy instead of relying on gold imports as they are unsustainable and intensify current account deficit, industry body Assocham Thursday said.

National Postal Policy to be announced in 2012: Kapil Sibal

Last Updated: Thursday, February 2, 2012, 00:01

A policy targeting expansion and modernisation of the postal network would be announced this year, said Communications Minister Kapil Sibal said on Wednesday and added that the postal department had applied to the Reserve Bank of India (RBI) for a banking licence.

Post office savings scheme interest rates not floating: Fin Min

Last Updated: Wednesday, January 4, 2012, 14:01

The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.

8.7% interest on new post office savings scheme

Last Updated: Tuesday, November 29, 2011, 20:43

The government will introduce a new post office savings scheme of 10-year maturity effective from Dec 1 that will earn annual compound interest rate of 8.7 percent.

Post office savings, PPF to fetch better returns from Dec 1

Last Updated: Thursday, November 24, 2011, 23:25

PPF account holders, small depositors and persons keeping money in the schemes operated by post offices, will get higher rate of return from December 1, 2011.

Innt`l parcels with banned drugs caught at FPO

Last Updated: Wednesday, September 14, 2011, 12:55

The Foreign Post Office (FPO) here has busted an apparent drug racket smuggling banned drugs to international destinations.

All post offices to get internet connectivity by 2012-13: Sibal

Last Updated: Wednesday, August 10, 2011, 22:51

The government will provide internet connectivity to all post offices in the country by the year 2012-13 as part of the India Post Technology Project.

Sibal to convert 1.5 lakh POs into banks; to seek RBI nod

Last Updated: Sunday, July 31, 2011, 17:53

The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil.

Telecom Ministry mulls corporatisation of Postal Dept

Last Updated: Wednesday, July 20, 2011, 18:12

In an effort to streamline revenue of the Department of Post (DoP) and to make it more competitive, the telecom ministry plans to corporatise its operations by tying up with private retailers, banks and educational institutions.