The Minister for Communications & IT and Law and Justice World Shri Ravi Shankar Prasad will inaugurate the Postal Savings Banks Forum in New Delhi tomorrow This year’s forum is being organised by World Savings and Retail Banking Institute (WSBI) jointly with the National Savings Organisation (Ministry of Finance) and the Department of Posts.
The theme of this year’s Postal Savings Banks Forum will be “The rising force of postal banking in the retail banking market”.
The role of postal operators in the world of retail banking is often overlooked. Post Offices worldwide hold 1.6 billion savings and deposit accounts. This is second only to commercial banks, which hold about 2.5 billion accounts. Thus, post offices are critical to the pursuit of financial inclusion, which is recognised today as a vital pre-requisite to socio-economic development.
