Society and facilities are getting modernized day by day. Everyday a new technology is launched so as to simplify the day to day life. People are running short of time and in that case, if things continue to be the same as of the older days, it shall neither benefit the population nor the service provider. Giving a thought to this, postal office is now to get renovated with modern technologies and smart gadgets. This improvisation is now to take place in the rural areas where out of 1.54 lakh post offices around 1.39 lakh are located in the same.
Soon around 650 postal banks are going to open across India which will be connecting to the post offices located in the rural areas. The India Post Payment Bank (IPPB) will be professionally managed and run by a CEO and on the departmental heads shall be government representatives. For all the post offices, IPPB shall as the acess point.
Private financial entities and foreign banks are super excited and seeking good business opportunities as it would help them work on a broad and quite a vast network. Domestic entities such as SBI, Union Bank, PNB and international entities like Barclays Bank, HSBC and Deutsche Bank. On the other hand there are many other that are also standing in the queue like PNB Metlife, Bajaj Allianz, HDFC Life, ICICI Prudential, HDFC Life and more, to enjoy the opportunities with the postal department. It will also provide you basic banking facilities, all kinds of payments and distribution of various financial products like mutual funds, insurance.
All post offices will be access points for IPPB. All the post offices will now be equipped with micro-ATMs that shall enable its customers to perform both the types of transactions, cash and digital transactions. Moreover, there will be many other access points like ATMS, mobile banking and internet banking, using which customers can transact according to their need. All the delivery postmen and Grameen Dak sevaks will now become your banker as soon they are going to provide you all types of financial services and will act as savings agents who provide your services at your doorstep. They’ll be provided a Smartphone and an iPad using which they shall proceed to serve the financial services to the population of the rural areas.
Verdict: The GDP of the India is growing at the fastest pace where rural development is playing a vital role. The idea of connecting post offices located in the rural banks to the India Post Payment Bank will also enable more people to connect with banking facilities and other financial services. Things and people both are get modernized with the latest technology and thus it becomes very necessary to connect the rural population with the same so as to match the pace and contribute in the development of the country’s economy.
Author: Mrs. Viveka Verma Nagar