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Indian Postal Bank would be a game changer for the Banking says Anjuli Chib Duggal

“Launch of  Indian Postal Bank is going to be a game changer  for banking sector and the  operationalisation  of its  1.5 lakh branches would give a massive fillip   to the Banking & Financial system in the country.  Banks need to take advantage  of such rapidly changing  positive growth opportunities in the country and contribute further to development of nation” said Ms. Anjuli Chib Duggal ,Secretary, Department of Financial Services Government of India .. at the 69th AGM of Indian Bank Association ( IBA) in Mumbai.

Speaking on the occasion she said that with so many additional Postal Bank   branches on the ground and expansion of the network ‘Bank Mitras’e a significant boost would be given  not only to  the financial inclusion of the programmes of Government but  also to  the development of last mile Banking operations in the country.  She said that other established Banking Institutions should take advantage of the same.

Ms Duggal said that Banks need to fore see  technological changes and strengthen inter-institutional arrangement to take advantage of the growth and expansion opportunities being offered by the development of all the sectors.  She  exhorted the Banks to stream line the system of the recruitment of ‘Bank Mitras’ and consider giving  more functional autonomy to the Bank Branches in such  matters.

Ms. Duggal appreciated the work done by the IBA in supporting the growth at social securities of government of India.

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