According to data shared, people deposited a total amount of over ₹1,615 crore and withdrew over ₹896 crore during the three-day period
The government has sharply cut the interest rate on small savings schemes
India Post has recorded transactions worth ₹2,680 crore between Thursday and Saturday with post office saving bank accounts leading the business, according to an official statement issued. According to data shared in the statement, people deposited a total amount of over ₹1,615 crore and withdrew over ₹896 crore during the three-day period. India Post recorded transactions worth ₹819.72 crore on Thursday, ₹906.22 crore Friday and ₹954.22 crore on Saturday.
The government has sharply cut the interest rate on small savings schemes, including the popular Public Provident Fund or PPF. The new rates are applicable for this quarter, from 1st April to 30th June 2020.
The India Post on Tuesday extended its ‘Post Office on Wheels’ services in UP’s Agra and Bareilly in order to ensure seamless delivery of posts and services to the citizens during the coronavirus lockdown.
In other news, post offices in West Bengal will deliver pension at the home of people who are 80-years old or above during the lockdown period, a senior official of the postal department said. For others pension will be disbursed from the post offices from April 3, the official said.
There are over 1.5 lakh post offices across the country, of which around 1.3 lakh branches are in rural India.
Last week, Prime Minister Modi announced a 21-day national lockdown to control the spread of the novel coronavirus.
