NEWS & ADVICE : FIXED DEPOSITS
Indian post attempting to expand its banking business
By Neelima Shankar
Mar 26, 2014
Print    Email    RSS   

Even though the chances of the getting the banking license for the Indian post is less due to the lack of infrastructure, still the Indian Post is working to expand its business. It has been reported that Indian post will be coming up with 2800 new ATMs by the end of next fiscal year.

Bank is attempting to attract more number of customers to open the post office savings accounts. Indian post is widely spread across the nation with around 155,000 branches all over the country. The finance Minister stated that Indian post need to satisfy the new criteria and will have to work as the other commercial banks work. In order to encourage the customer towards transferring the funds in post office savings account Indian post stopped issuing cheque to the customers upon maturity of their deposits in small savings schemes.

Indian post is planning to expand its network and spread the business with network of 25,000 urban post offices by the end of this year.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Manage your FD in a better way
Financial planning: a tool to retire...
Know about corporate fixed deposits
Recurring deposit facility by IDBI Bank
Carnival of Indian Personal Finance Blogs...


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive