Concern over delays in the setting up of Post-Office-Based Bank
THE Government has denied it is considering scrapping the Universal Bank, which is at the heart of its plans to save village post offices.
The Department of Trade and Industry categorically denied reports that the future of the new post office-based bank was in doubt.
But Consignia, as the Post Office is now called, is increasingly concerned about a delay in drawing up a detailed blueprint for the Universal Bank.
It is due to come into operation in April 2003 but bosses are worried they will not have enough time to develop the complex computer technology which will be needed.
There is believed to be a dispute within Government departments about how many people will be able to open new basic accounts at post offices.
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