India Post- Core Banking Service are attracting investors towards Post Office Saving Banks
| Main Authors: | Arvind Kumar, Manoj Kumar |
|---|---|
| Format: | Article |
| Terbitan: |
, 2019
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| Subjects: | |
| Online Access: |
https://zenodo.org/record/2544658 |
Daftar Isi:
- As we know that the India Post has been providing service since British-India. It is very oldest organizations of Indian Government, Was only way to convey the message from one place to another place. But there are many changes have been done since independence, now we see that the present Post Office look is much more different than 1947"s. Presently, Post Office has become a CBS Post Office. There are many places in India where many people are unbanked and are not any organizations where they can deposit their money for future security, but when we see India Post, has lakhs branches and covering across India. That is why we can say that CBS Post Offices has become panacea for rural households and vulnerable people. The Indian Postal Service, with 155,333 post offices, is the most widely distributed post office system in the world. India Post Office Savings Bank is widely known and traditional formal institution offering saving products. Its outreach has been ceaselessly increasing both in terms of number of accounts as well as number of branches, especially in small regions of the country. Post Office Savings Account is similar in many ways to a regular account. It is considered to be a highly secure instrument to deposit funds into and offers the option of full or partial liquidation of funds at very short notice in case the need arises. These accounts generally offer a guaranteed return on investment and are ideal for senior citizens and people who are looking to earn a regular income without exposure to risk. It is also best suited for those individuals living in rural and semi-rural areas, which have limited exposure to banking. The present paper examines the preference of investors of rural-urban areas towards different investment schemes of CBS Post office and factors that motivates them to choose investment schemes of CBS Post office.