India Post delivers ₹412cr cash in doorstep banking revolution

The lockdown has set off a banking revolution. Irrespective of which bank you have an account with—in a city or a village without a branch—you can call the local post office and ask it to deliver cash. In as little as 10-15 minutes, the postman or postwoman will reach your home. For this, you need not have an account with the post office.

Between March 24 and April 23, post offices across India delivered Rs 412 crore in over 21 lakh such transactions, mostly in rural and unbanked areas, through a network of 1.36 lakh post offices which have been equipped with 1.86 lakh handheld AePS devices.

“This has been made possible due to AePS facility of India Post Payments Bank (IPPB) through which one can withdraw money at the doorstep even if he or she has an account in any other bank,” said Pradipta Kumar Bisoi, secretary, department of posts.