1Associate Professor, IMSCD & R, Ahmednagar, (M.S.), India (Research Scolar, S.P.Pune University)
2Director, IMSCD & R, Ahmednagar, (M.S.), India (Research Guide, S.P.Pune University)
3Assistant Professor, IBMRD, Vilad Ghat, Ahmednagar, (M.S.), India. (Research Scolar, S.P.Pune University)
Online published on 2 July, 2015.
Post Office Saving Bank (POSB) faces many challenges from financial institutions like bank and insurance companies. It also faces the challenges from increasing competition and continuing advances in Information Communication Technology (ICT), especially in mobile technology (2G, 3G, 4G) and Internet. As the POSB is an agency of the Ministry of Finance, they opposes India Post's banking licence plan. To fight with banks, POSB also started Core Banking Services (CBS), but one of the major problems faced is availability of well-trained work force. Out of 1,54,856 post offices, 1,39,164 post offices (89.87%) are situated in rural regions, which are manage by Gramin Dak Sewaks with minimum qualification of matriculate or below and without having any technical knowledge. In addition to this, many senior officials do not know the fundamentals of computer. This paper explores the challenges faced by POSB and ways to meet this challeges.
Fixed Deposit, Mahila Samriddhi Yojana, Monthly Income Scheme, National Savings Certificate, Post Office Saving Bank (POSB), Senior Citizens Saving Scheme, Time Deposit
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