New Delhi, March 9: Serving its customers since 1854, the India Post has always catered to their basic requirements of communications. Basing the roots of old method of payment through post offices and covering every sector and arena, the Center has decided to set up 650 India Post Payment Bank branches by April.
Confirming the news, Telecom Minister, Manoj Sinha stated that the bank is aiming to have a pan-India presence through its 650 branches, co-located at the district headquarters of the Post offices, by April this year.
On January 20, 2017, India Post Payments Bank received the final approval from the Reserve Bank of India to set up payments branches. The department has already rolled out two branches on January 30, 2017, in Raipur and Ranchi.
Reportedly, the 650 branches will act as controlling offices in an attempt to serve as service and monitoring bodies of nearly 1.55 lakh post offices.
The minister further added that the branch readiness in identified 650 branches is underway in terms of civil and electrical works, furniture and fixtures and technology setup. Apart from that recruitment of personnel is also being undertaken and so far 528 managers (approximately) have been on boarded.
Further, the bank is estimated to acquire 8 crore customers within a span of five years from its launch.
Over the years, the office has evolved by providing varied services to citizens in terms of Mail Services, Money remittances, Small Savings, Retail Services and Bill Payments. This new feature will work as an added advantage and expand the view of improvement and ease its service to the customers.