About India Post
India Post, also known as the Department of Posts (DoP), is the postal system managed and operated by the Ministry of Communications and Information Technology of the Government of India. It is the most widely distributed postal system in the world. Taking advantage of such a vast network, the Department decided to launch a number of savings instruments and banking features in 2015 after the in-principle approval from the Reserve Bank of India. As of February 2016, India Post’s 18,231 branches operate under Core Banking Solutions (CBS) and 576 branches have an ATM of their own.
Apart from delivering letters, mails, couriers, money orders, etc., India Post provides various other facilities that include Small Savings Scheme, Senior Citizens Savings Scheme (SCSS), National Savings Certificates (NSC), Public Provident Funds (PPF), Monthly-income Plans, Postal Life Insurance (PLI), etc. India Post also offers fixed deposits in the name of Time Deposit schemes. A number of accounts are offered under Post Office saving schemes such as Post Office Savings Account, 5 Year Post Office Recurring Deposit account, Kisan Vikas Patra and Sukanya Samriddhi accounts.