Post office saving account customers will start getting better service from April. Because Post office Saving bank (India Post payment bank) will be combined with other bank accounts by April and all services will be digitalized in 2021.
Post office saving account customers will start getting better service from April. Because Post office Saving bank (India Post payment bank) will be combined with other bank accounts by April and all services will be digitalized in 2021. Department of Posts Secretary Pradipta Kumar Bisoi said that the Department of Posts worked with promptness in delivering essential goods during the lockdown when rail, road and air traffic was closed. Also, it is continuously working on increasing its capacity because till now the trains have not been operating at full capacity.
He said that in the new year, we will emphasize on increasing the digitization of services and delivering services to homes. Our banking and financial services are already digital. We are also hoping to link the post office savings banks directly to the accounts of other banks by April.
Post office core banking
The post office core banking solution (CBS) system is the largest in the world. 23,483 post offices are already connected to the network. More than 50 crore Post Office Savings Bank (PoSB) of India Post is serving customers through 1.56 lakh post offices across the country.
85 lakh transactions
Bisoi said that apart from digitization of services, we are focusing on providing services to the people at home. This year, we sent Rs 900 crore through 85 lakh transactions and verification of 3 lakh pensioners was done at their home.
Minimum Balance 500 rupee
Explain that the Department of Posts has increased the minimum balance of savings account from Rs 50 to Rs 500 (Minimum Balance 500 rupee). Its gadget notification has been released.
Balance less in 13 crore accounts
According to the data, as of December 19, 2019, the minimum balance in the Saving Account in Post Office was less than 500 rupees. The post office director has told all the Post Office that they told the account holders about this. The post office is losing Rs 2800 crore annually due to the minimum balance being reduced.
