Post office in India is no longer just a means of delivering letters, but it has also become a very safe and reliable banking option for crores of countrymen. According to recently revealed data, the total deposits of people in post office savings accounts across the country have touched the historical figure of approximately Rs 22 lakh crore.
At present around 38 crore post office savings accounts are active across the country. From rural areas to cities, common citizens everywhere trust the post office the most to keep their hard-earned money safe. Due to government guarantee, this trust of the general public remains constant.
Guarantee of secure future for daughters
Apart from general savings accounts, the general public has also invested huge amounts in government schemes. Sukanya Samriddhi Yojana, launched especially for the higher education and marriage of daughters, has received an overwhelming response. Union Minister Jyotiraditya Scindia recently said that so far about 3.8 crore accounts have been opened under this scheme.
The total amount deposited in these accounts of Sukanya Samriddhi Yojana has reached approximately Rs 2.27 lakh crore. These figures given in the Gramin Dak Sevak Conference make it clear that Indian families are adopting this government initiative on a large scale and making safe investments for the economically strong future of their girls.
Changing face due to modern technology
Post offices, considered the economic backbone of rural India, are now rapidly modernizing. About 1.65 lakh post offices and 4.5 lakh employees operate this huge network in the country. To make parcel services world class, cutting-edge scientific technologies like conveyor systems, RFID, barcodes and QR codes are being used extensively.
Apart from this, special steps are being taken to speed up postal delivery in hilly and difficult areas. Delivery with the help of drones will soon be started in states like Jammu and Kashmir, Uttarakhand and Himachal Pradesh. Due to continuous monitoring and improvement, the number of post offices without transactions has now reduced to only fifteen hundred.
Huge difference between earnings and expenses
Despite such tremendous progress and vast network, the Department of Posts is currently facing the challenge of huge financial losses. According to State Communications Minister Chandrashekhar Pammasani, the annual expenditure of the department is around Rs 35,000 crore. In contrast, the annual income of the Postal Department is limited to only around Rs 13,000 crore, which is a major hindrance in establishing financial balance.
In many states, the expenditure of the department is many times more than its total income. If we understand from the example of one state, last year Rs. 1800 crores were spent there, whereas the income was only Rs. 600 crores. However, a slight increase in income has been registered and it has increased to Rs 850 crore.