| Why are Post Office Savings Schemes not so popular in India? |
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| Articles |
| Written by Site Administrator |
| Friday, 09 October 2009 11:27 |
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First of all, this is a misleading and biased opinion. Post Office even today enjoys wide popularity among a large section of Indian population, particularly from rural areas. However, in cities and larger towns, people rely more on banks. Post office has not been able to cater to consumers in the same way as the present day banks. There are several reasons behind this: Lack of Automation There is very less automation and process integration in Post Offices. As a result consumers have to process their transactions through a lot of paper work. Lack of automation also makes it mandatory for consumers to visit the post office every time they want to avail its banking services. Inadequate Advertising Though Post Office also has populist schemes, they are not advertised widely. Other than the occasional press releases and the banner that you see only inside the post offices. The Primary Focus is not Banking As is obvious, the primary focus of India Post is not Banking and Finance but activities related to Post & Telegraph. As a result enough priority is not given for technology upgrades, process improvement, etc,, in the field of Banking services. So, even today, there is no need to think twice before investing in savings schemes offered by Post Offices in India. Comments (0) |
| Last Updated on Tuesday, 13 October 2009 18:42 |