Write a short note on post office saving bank? answer this guys .!
Answers
If you look back, savings banks were opened with post offices only during earlier days. Before nationalisation of banks, banks were not willing to open accounts for the public and it was a challenge for opening one bank account.
Account opening with post office was very simpler; however, they used to verify the signatures like anything and for a slight change in the signature, they will not allow you to withdraw funds and we have to spend a lot of time for depositing the money and withdrawing the money.
I find that the same situation still prevails. However, some senior citizens still prefer post office deposit and they make it as a practice to go the post office once in two days and they can meet the employees as well as other friends and customers.
Nowadays, post office started opening computerised system of accounting as per core banking solutions at par with commercial banks and they had started issuing debit cards also.
Still they have to go a long way.
In fact, they undertake all kinds of business - packaging services, money transfer, postal services, railway ticket booking.