NEWS & ADVICE : SAVINGS ACCOUNTS
Post offices to turn in to banks soon
By Vaibhav Aggarwal
Dec 11, 2013
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Indian post offices will be providing banking facilities soon. It is expected that In 2014 Indian post will get the banking license from Reserve bank of India. Indian post will be recruiting officers to handle the banking services.

 

The first branch of the Indian post Bank will be established in navrangpur Gujarat. The Post banks are also planning to provide with the facility of ATMs. According to the report the banks will come in to operation before elections next year. Initially banking in post office will begin from the post office which are computerized and are connected with central server.

There are approximately 25000 computerized post offices all over the country that can be turned in to post banks. Further it has been reported that already the Indian post is controlling over Rs 6,05,697 crore annually with over 28 crore accounts in its several savings schemes.


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