Post office bank digital transaction limitations

If one has a savings account in Post office (this is mandatory any credits from other PO savings) and other investments like PPF, KVP,NSC etc., there is no direct way to transfer money digitally to the account.
- The access to the savings account (and other investments) is given through the elaborate KYC process, where one has to go to the PO and submit the documents. Even then, the digital banking does not have provision to transfer funds to/from other banks to the PO savings account or to other investment products. The transfer is possible only within the PO accounts.
- If one has to transfer from/to other banks, then another savings account has to be opened through IPPB (India posts payment bank app) which gets linked to the Savings and other accounts. This amounts to maintaining 2 savings account. This is cumbersome to maintain and illogical.

Instead, the PO should provide direct NET banking facilities, like other banks, to the savings and related accounts for a customer. And if a customer already has Savings account, the customer should be able to get the netbanking done online, instead of visits to the PO. more  

View all 14 comments Below 14 comments
Replacing one problem with another does not solve the problem. It just reshapes, remodels or mutates it. Same virus different form. The problem is the worker, man or robot. more  
I am told that it takes 5 to 6 days for the Post office to clear a normal bank check which we use for deposits to PO accounts . Deposit check in PO. -> Check sent to HO->HO sends for clearing ->back to po/ho after clearing->details entered manually in the system ->credited to po account. more  
Yes. PO savings bank must be updated to facilitate transactions with other banks. more  
Postal dept. is adopting digital systems slowly. The Speed Post receipts are issued through a computer. It is now possible to track Speed Post online.
Government is not paying much attention to modernization of of Postal service. Even in a city like Mumbai post offices are operating from old and dilapidated premises. A large portion of postal service has been taken over by Private Courier Companies which are providing doorstep pick up and efficient delivery service. more  
It appears that post office management wants to keep its own identity in the society. It does not want to enter into the complicated networking system, which may be either due to the present staff may not be highly qualified to handle the operations or it may not have developed proper software technology till nor lacking of training by the staffs as well as due to less manpower.

When passports are issued from postoffices nowadays, the management also should accept for a change according to the technology to make the work easier to avoid crowded atmosphere in the post offices. Now nobody has time to waste in the highly demanding living conditions.
The management should start recruiting qualified engineers for this purpose all over the India and go for employment creation. more  
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