Post Office Savings Bank vs Commercial Banks | Banking Economy Basics by Dr. Mrunal Patel

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Description
Join *Dr. Mrunal Patel**, a leading UPSC educator and economy expert, as he explains the **Post Office Savings Bank (POSB)* and its differences from commercial banks in this concise lecture. Perfect for aspirants preparing for **UPSC, SSC-CGL, State PSC, Banking, IBPS, RBI, CAPF, CDS, ACIO, APFC**, and other competitive exams, this video simplifies the complexities of POSB and its regulatory challenges.

Dr. Patel breaks down how POSB, established during the British era, operates differently from commercial banks like Axis or HDFC. While commercial banks are tightly regulated by the RBI under the Banking Regulation Act, POSB has limited RBI oversight and focuses on small savings schemes, lending primarily to government entities. Recent scams worth over ₹90 crore have exposed weaknesses in POSB’s operations, prompting the Finance Ministry to push for stricter RBI supervision through a new agreement.

What You’ll Learn
**POSB vs Commercial Banks**: How POSB differs from banks like Bank of Baroda in operations and RBI control.
**POSB’s Role**: How POSB collects public deposits for small savings schemes and lends to government bodies like the Union Government and Food Corporation of India.
**Regulatory Gaps**: Why POSB isn’t fully governed by the Banking Regulation Act, and the role of the Payment and Settlement Systems Act.
**Recent Scams**: Details of ₹90 crore frauds due to mismanagement by postal staff.
**RBI Reforms**: The Finance Ministry’s push for a supervisory pact to tighten RBI oversight on POSB.
**Payment Banks**: A brief overview of India Post Payment Bank and its limitations.
**Exam Prep Tips**: Access free resources at Unacademy to ace exams with Dr. Patel’s guidance.


Why Watch This?
Understanding POSB’s structure and challenges is vital for competitive exams. Dr. Patel’s clear explanations make this topic accessible, helping you score better in economy sections. Plus, learn about Unacademy’s *Diwali offer* for UPSC subscriptions, including live lectures, notes, and a free Mains Nischay Batch (worth ₹10,000). Use coupon code *Mrunal.org* at *Unacademy.com* to join now and complete your syllabus early for revision and mock tests.

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