BusinessNational

Postman Will Bring Banking to Your Doorsteps

How the humble postman will bring banking to your doorstep

khaki-clad, now largely forgotten, ‘dakia’ is drafted in as a key player in the scheme of things to drive Prime Minister Narendra Modi’s pet initiatives of Digital India and financial inclusion.

Internet illiteracy in rural India where millions still use mobile phones for only voice communication is a major impediment to take Digital India to the grassroots.

That is also hampering the government’s efforts towards financial inclusion and make the direct subsidy transfer scheme more effective.

Officials believe this problem can be addressed by leveraging the postal department, with its vast network and workforce that are increasingly unused in an era when dirtcheap telephone services have reduced letter writing into a hobby of the nostalgia-struck.

India Post Payment Bank (IPPB), the postal department’s payments bank division, will utilise the services of the postman to offer doorstep or assisted banking in rural areas.

Armed with a smartphone, the postman will assist people to make banking transactions from their homes. They can also use his services to receive subsidy payments through Aadhaar Pay or BHIM.

The trust of people that post offices and postmen enjoy, the department hopes, will help IPPB make its presence felt at the ground level and bring individuals and small business into the formal financial system.

IPPB, which currently has a branch each in Raipur and Ranchi, will later this month expand the operations to 650 post officers at district headquarters and about 3,000 access points.

Communication Minister Manoj Sinha said IPPB would be a game-changer in taking digital services to rural India. These initiatives, he told , “serve PM Narendra Modi’s vision of Digital India”.

The government is keen to take IPPB’s services to every corner of the country before parliamentary elections a year from now, sources in the Department of Posts (DoP) said.

IPPB’s role would be politically significant in view of its direct connectivity with rural people, particularly social sector beneficiaries and migrant labourers.

“Initially, about 40,000 postmen will be available for IPPB,” a source at the DoP said. Eventually, that number could increase to about 1.50 lakh postmen, including Gramin Dak Sewaks.

The DoP is currently providing smartphones to the first batch of postmen who will act as IPPB’s agents.

While IPPB will help process payments from central schemes like the Mahatma Gandhi National Rural Employment Guarantee Scheme and the National Security Assistance Programme, it is in touch also with state governments to play a bigger part in the direct benefit transfer scheme for subsidies they offer.

IPPB’s presence in rural areas may increase access of common people to the formal financial system, the DoP source said.

Payments banks such as IPPB are meant to take banking to rural locations where infrastructure is lacking. They aren’t allowed to lend to customers, but can take deposits, convey remittances and dispense payments to recipients.

Postal department sources said while IPPB cannot provide loans, it can still facilitate third parties to offer loans to villagers.

The postman personally knows the villagers of his area, and that will be useful in evaluating their financial position, a source said.

“We can assess the financial position of villagers who require small loans for the purpose of purchasing cattle, fertiliser or opening shops. Third parties may consider them for such loans on the basis of our assessment.”

If villagers get loans through formal channels, it may also put a check on unscrupulous moneylenders in rural areas, he said.

Summary
Review Date
Reviewed Item
Postman Will Bring Banking to Your Doorsteps
Author Rating
51star1star1star1star1star
DPR ADVT
Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
Which party will emerge as the single largest party?
Which party will have more seats?
Whom would you like to see as next Chhattisgarh Chief Minister?
Have you witnessed development work in your area?
Do you think that farmers of Chhattisgarh are satisfied with BJP government?
Do you think youngsters are happy with employment scenario created by Chhattisgarh/state government?
Do you think state government has done enough on issue of women empowerment?
Are you satisfied with work done by your legislator? Have electoral promises been fulfilled or not?
Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
नाम
विधानसभा क्षेत्र
आयु
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को ज्यादा सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-
Tags

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.