Tamil Nadu

Postal small savings services extended to rural post offices

Postal small savings services have now been extended to rural post offices to help people avoid commuting long distance to access such schemes.

According to a press release, the postal savings bank offices functioned only in head post offices, sub-offices and urban branch post offices. However, people in rural areas found it difficult to travel to post offices in towns and cities during the lockdown. There are nearly three crore postal small savings accounts. The facility would help residents in rural areas to start new accounts.

Earlier, the rural branch post offices were offering post office savings accounts, recurring deposits, time deposits and Sukanya Samriddhi account schemes. With the new directive, they would be allowed to offer other services such as public provident fund, monthly income scheme, national savings certificate, kisan vikas patra and senior citizens savings schemes.

Aadhaar-enabled payment system, which facilitates cash withdrawal from any Aadhaar linked bank account through postmen, has received good patronage among rural residents.

Nearly ₹1,739 crore of domestic money remittance has been done under the India Post payment bank transactions so far in the State, the release added.

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Printable version | Aug 11, 2022 2:29:40 am | https://www.thehindu.com/news/national/tamil-nadu/postal-small-savings-services-extended-to-rural-post-offices/article32216887.ece