Home Financial Record India Post Financial Services Records Strong Growth; 12.25 lakh savings accounts opened in Tiruchy – The New Indian Express

India Post Financial Services Records Strong Growth; 12.25 lakh savings accounts opened in Tiruchy – The New Indian Express

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Express press service

TIRUCHY: The financial services offered by India Post including various programs and initiatives are witnessing exponential growth in central Tamil Nadu and many people especially from rural areas are opting for the banking services offered by the postal department.

In the financial year 2021-2022, about 12.25 lakh savings accounts were opened in the Tiruchy Postal Region (TPR). With that, it became the region with the highest number of savings accounts opened in the country last year, officials said. The TPR comprises approximately 3,507 post offices in 13 districts in central TN.

The second and third positions were secured by Kolkata Postal Region and South Bengal Postal Region respectively with the opening of Postal Savings Accounts of 11 lakh and 9.5 lakh.

Schemes like Selva Magal Semippu Account (SSA) – a savings scheme for girls – are also seeing significant growth in the region, with around 75 lakh accounts opened in July. The scheme offers 7.6 percent interest per annum. An officer said, “In the last fiscal year, about 1.04 lakh SSA accounts were opened in the central region. In the current fiscal year (2022-23), through July, approximately 30,745 SSA accounts have been opened,” an officer said.

Sources believed that the Tamil name given to the program played a crucial role in popularizing it in the state. “The original name of the system is ‘Sukanya Samriddhi Accounts’. However, in order to popularize it among citizens, the state postal service has replaced the name with Tamil words, which has increased its reach,” a woman said. source.

Following the popularity of the system, the department is ready to consider a similar strategy with the Senior Citizen Savings Scheme (SCSS), which is now called “Agavai 60, Anjal 20” in the state.

One officer, speaking from SCSS, said: “Citizens over 60, retired civilians between 55 and 60, retired defense employees over 50 and under 60, can open this account. The postal service offers about 7.4% interest per annum for SCSS. Previously, at TPR, we had organized special camps from July 21 to August 18 and more than 50,000 accounts had been opened. We expect to open approximately 1,000 senior accounts at TPR this year.”

According to sources, another India Post initiative that is gaining popularity among residents of the central region of TN is the Aadhaar Enabled Payment System (AePS). In the financial year 2021-22, about 6.44 lakh of transactions amounting to about Rs 169.84 crore were recorded in the region, which is one of the highest recorded in the country, have indicated sources.

According to the officials, any citizen with a bank account and Aadhaar linked to the same mobile number can benefit from the scheme. “With this system, banking transactions can be performed using thumbprints and OTPs received on mobile phones,” an official said.

TPR Postmaster General A Govindarajan said, “Efforts are being made to further increase the popularity of the financial services offered by the Postal Service.” Our main objective is to ensure that financial services are accessible to everyone and our team does its best to achieve this. .”

TIRUCHY: The financial services offered by India Post including various programs and initiatives are witnessing exponential growth in central Tamil Nadu and many people especially from rural areas are opting for the banking services offered by the postal department. In the financial year 2021-2022, about 12.25 lakh savings accounts were opened in the Tiruchy Postal Region (TPR). With that, it became the region with the highest number of savings accounts opened in the country last year, officials said. The TPR comprises approximately 3,507 post offices in 13 districts in central TN. The second and third positions were secured by Kolkata Postal Region and South Bengal Postal Region respectively with the opening of Postal Savings Accounts of 11 lakh and 9.5 lakh. Schemes like Selva Magal Semippu Account (SSA) – a savings scheme for girls – are also seeing significant growth in the region, with around 75 lakh accounts opened in July. The scheme offers 7.6 percent interest per annum. An officer said, “In the last fiscal year, about 1.04 lakh SSA accounts were opened in the central region. In the current fiscal year (2022-23), through July, approximately 30,745 SSA accounts have been opened,” an officer said. Sources believed that the Tamil name given to the program played a crucial role in popularizing it in the state. “The original name of the system is ‘Sukanya Samriddhi Accounts’. However, in order to popularize it among citizens, the state postal service has replaced the name with Tamil words, which has increased its reach,” a woman said. source. Following the popularity of the system, the department is ready to consider a similar strategy with the Senior Citizen Savings Scheme (SCSS), which is now called “Agavai 60, Anjal 20” in the state. One officer, speaking from SCSS, said: “Citizens over 60, retired civilians between 55 and 60, retired defense employees over 50 and under 60, can open this account. The postal service offers about 7.4% interest per annum for SCSS. Previously, at TPR, we had organized special camps from July 21 to August 18 and more than 50,000 accounts had been opened. We expect to open about 1,000 senior citizen accounts at TPR this year.” According to sources, another India Post initiative that is gaining popularity among residents of the central TN region is the Aadhaar Enabled Payment System (AePS ). In the financial year 2021-22, about 6.44 lakh of transactions amounting to about Rs 169.84 crore were recorded in the region, which is one of the highest recorded in the country, have indicated sources. According to the officials, any citizen with a bank account and Aadhaar linked to the same mobile number can benefit from the scheme. “With this system, banking transactions can be performed using thumbprints and OTPs received on mobile phones,” an official said. TPR Postmaster General A Govindarajan said, “Efforts are being made to further increase the popularity of the financial services offered by the Postal Service.” Our main objective is to ensure that financial services are accessible to everyone and our team does its best to achieve this. .”