Post office to come up with payment bank in city soon

Tribune News Service

Amritsar, April 15

The Department of Posts will launch India Post Payments Bank in the city soon. According to the department, its aim is to promote digital transactions and paperless banking.

The department will offer the facility to carry out day-to-day online transitions, such as bill payment. No loan or credit will be offered.

Makhan Singh, Senior Superintendent, Post Office, Amritsar division, said, This service will help the masses. We will take steps to create awareness about the system through various activities. We hope to provide better services to our customers through this new initiative.”

The field staff of the post office would be imparted training.

A person can hold maximum balance of Rs 1 lakh. The bank will open accounts using customers’ Aadhaar numbers which would be required for payments. At a later stage, the payment bank will also offer mobile application.