Re: Post office as participatory for clearing house | |
Dear Members.
Please understand, Post office & Post office saving bank are two different identity.
Post office saving bank are authorised participatory in local clearing house as per RBI guide lines.
But Post office can not be participatory of clearing house by any regulation & it is illegal.
Post offices acting as if they are bankers but this is not so. This is absolutely illegal. There is no such legal circular. And i have proof for this replied by RBI.
Very few people know the difference between Post office & Postal Banking. Hence people believe in good faith in Post office.
Thanks
Avinash |