285 post offices linked with IPPB services in local division

Tribune News Service
Amritsar, December 7

India Post Payments Bank (IPPB) has linked its services with 285 post offices falling under the Amritsar division.

The local post office authorities had launched the banking service on September 1, 2018. The service was initially limited to a few post offices at the time of its launch. The banking system of post is meant to empower banking facilities for both rural, urban areas with offering of digital, mobile and door-to-door service for the account holders. Makhan Singh, senior superintendent, post office, Amritsar division, said, “The service has been extended in 285 post offices, sub-post offices under the Amritsar division. Moreover, more than 2,500 bank accounts have also been opened so far.”

Officials of post office claim that door-to-door banking service, under which postman is to visit the residence of their clients is one of the prominent feature of the postal bank. However, these banks termed as differential banking, cannot advance loans, but can provide services such as online bill payment, day to day transitions. The account can be opened at 285 post offices by linking Aadhaar number.