Post office banking services from 1st April
Posted on: 09/Mar/2017 6:35:12 PM
The postal department in the state of Tamil Nadu is set to start postal bank - offering banking services.
A postal department official explained that the postal department had already conducted discussions with the Reserve Bank of India about joining with the offer of banking services.
The Reserve Bank of India insisted that the banking services can be allowed only if the number of accounts exceeds a specified amount.
Consequently, the postal department officials and staff have instructed to get the opening of the accounts from the public. They have been visiting various institutions and organizations distributing the applications for more number of savings accounts.
The banking services offered by the postal department is known as postal bank. It is intended to start postal bank from 1st April.
To open an account or to join, it is enough if the applicant gives a single proof such as Aadhar card and other approved by the government. A minimum deposit of Rs. 100/- has to be made. This has to be paid along with the application.
For the people who open their postal bank account, ATM card, secret Number, and a passbook will be given by the post office. This ATM can be used to withdraw cash from any other bank ATMs. The are no charges for the ATM card for 4 years. Net banking facility is also provided.
The transactions of different types can be carried out in postal bank also just like any other bank. There will be special and separate place allotted for postal bank in the post office. The other postal services of the postal department will continue.
