India Post delivers Rs 412 cr cash in doorstep bank revolution

The shutdown has offset a bank revolution. No matter which bank you have an account in – in a town or village with no branch – you can call the local post office and ask it to provide cash. In as little as 10-15 minutes, the postman or mailwoman reaches your home. For this you do not need to have an account at the post office.

Between March 24 and April 23 post offices across India, Rs 412 crore in over 21 lakh provided such transactions, mostly in rural and non-banked areas, through a network of 1.36 lakh post offices equipped with 1.86 lakh handheld AePS units.

“This has been made possible due to AePS facilities India after payment bank (IPPB) through which you can withdraw money at the door, even if he or she has an account with any other bank, “he said Pradipta Kumar Bisoi, secretary, vacancy.

About two lakh postmen (and post women) are involved in delivering door step bank facilities for people, ”Bisoi said. People could now make bill payments such as electricity, water, DTH charging and transfer money to any other bank or post office account either through IPPB app or through postman.

Amid many encouraging stories reaching New Delhi headquarters, that of Jitendra Singh of Poore Nepal, a village in UP, sums up the new initiative. He was desperate to arrange Rs 3,000. The nearest ATM and his bank branch were 2 km away and it was past banking hours. I have called his village postmaster Mithilesh Kumari who delivered him the amount using her handheld device which was an Aadhaar enabled payment system (AePS).

Retirees, people with disabilities, women and the poor with accounts in branches away do not have to travel to raise money. Reminiscent of the good old money order system, the mailman comes right out the door to facilitate transactions in any bank anywhere.

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