« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Budget no boost, say CAs... Service tax on rent a concern... » KPMG to advise govt on revamp of postal dept March, 05th 2007 The Central government has appointed KPMG as consultants for revamping activities of the Department of Posts, a senior official said here today.    The government is awaiting a report from KPMG. However, one of the recommendations of KPMG is to set up Post Office Banks similar on the lines of Japan, which has been successful, the official said.    But the only hitch, the huge investment needed for starting a bank and a nod from the ministry of finance.    Postal banking has deposits of a whopping Rs 3 lakh crore and the Maharashtra circle has Rs 37,500 crore, the official said.    The amount is given to the Auditor General every month. And then the Central government lends to the state governments at 9 per cent interest for their monthly expenses, she said.    But with falling interest rates, the state governments tend to go for loans from banks than from the Central government, the official said.    The opening up of mutual funds and higher rate of returns from banks has started to affect the post office savings schemes, the official said.    People are withdrawing from our Kisan Vikas Patra and National Savings Certificate because they find the returns from mutual funds and banks attractive than ours, the official said.