Shillong set to get payments bank

Written by Meghalaya Times. Posted in Front Page

Staff Reporter
SHILLONG, Feb 23: Out of fifty new payments bank of India Post to be opened up in the first phase all over the country, Shillong has been chosen along with two other cities from the region.
Informing this, Som Kamei, Director Postal Services from the office of CPMG here said on Thursday that the head offices or GPOs will get the payments bank and all sub post offices can avail the services.

Further informing that Imphal and Agartala will also get payments bank each in the first phase, these banks will provide all online transactions applicable in other competitive players in the market.
Kamei said that the biggest advantage of India Post is its robust network and rural penetration, which is going to benefit people right at their village front.
India Post has been given license by the RBI along with other players like paytm, airtel money and others to run payments bank, since, Kamei said, the post offices are functioning as an agency to execute the schemes of the Union Ministry of Finance by way of collecting investors’ money and deposit this to the consolidated fund of India.
“But over the years the think-thank in the Ministry has seen that given the largest network of post offices at over one and half lakh and all products of the government reaching customers at their doorsteps, the idea is to leverage this network through payments bank,” said Kamei while adding that more than 80% of post offices are already under CBS – one of the major criterion for any online transactions.
Kamei also said that the other reason for choosing India Post is that the post offices are providing services like banks while clarifying that payments bank cannot give out loans and a customer account can have a maximum deposit of only one lakh. The three head post offices chosen in the region have been set an operational target of March 31, 2017 and Kamei said that they are facing some civil works issues in Shillong.
He also acknowledged that there lies a responsibility to create awareness among the rural populace since payments bank are designed for electronic transfers. He informed that training of Group A, B & C officers is going on in a phase manner with the former two groups being already trained while sharing that new generation are more adept to the use of technology than older employees.
Meanwhile, on the link failure issue that rocked Shillong GPO and its sub post offices in the past Kamei informed that speed and service has improved now with higher bandwidth and staff training.


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