Post Office Savings Account: India Post expects the Post Office Savings Bank to be linked with other bank accounts by April and focus on increasing the digitization of all services 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 were closed. At the same time, 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 providing services to the households. Our banking and financial services are already digitized. We are also hoping to link the post office savings banks directly to the accounts of other banks by April. The Post Office Core Banking Solution (CBS) system is the largest in the world. 23,483 post offices are already connected to the network.
Indian Post is serving more than 50 crore Post Office Savings Bank (POSB) customers through 1.56 lakh post offices across the country. 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.