India Posts to offer doorstep banking

India Posts to offer doorstep banking

Panaji: Stating that India Post Payments Bank (IPPB) will offer doorstep delivery of banking services through the use of smartphones, post master general Vinod Kumar said that account holders would be able to deposit and withdraw up to Rs 5,000 at home.

IPPB, which officially launches on Saturday, will target underbanked and un-banked regions in the state.

“In the last three days, India
Posts Payment Bank has opened more than 2,000 accounts in Goa, majority of which have been opened on smartphones,” Kumar said. “The postman will come to your home and you can withdraw and deposit money with a limit of Rs 5,000.”

India Posts Payment Bank has two branches in Goa and 10 access points across the state. The number of branches and access points in Goa region is much higher as it also includes Sangli, Malvan, Ratnagiri and Kolhapur.

There are 797 postmen in the state and 3,703 Gramin Dak Sevaks working in the Goa Region. The Department of Posts has set up India Post Payments Bank with 100% equity owned by government of India providing different digital payment services to customers across the country.

Existing Department of Posts customers can link their postal account with the India Posts Payment Bank account and avail banking services like bill payments and merchant payments. “The customer can keep the required amount in IPPB for all his expenses and payments, whereas excess amount can be moved to the post account,” Kumar said.