Growth in postal savings accounts

Many residents in and around the city who did not have banking access now have savings accounts. The ongoing campaign of the Postal Department to reach people who do not have access to savings accounts has helped it get more patronage.

This fiscal, Chennai city region has nearly 56 lakh savings accounts and has gained about one lakh more accounts compared to previous year.

The number of deposit accounts across the State has witnessed a steady increase in the past six years. The number of accounts has gone up from 2.20 crore in 2012 to nearly 2.75 crore accounts this fiscal.

Officials of the Postal Department attribute it to recent outreach campaigns among different communities in the city. Post offices in several areas targeted schoolchildren and the corporate sector. Leprosy patients were also made aware of postal saving schemes and insurance schemes, including the Pradhan Mantri Suraksha Bima Yojana.

Fisherfolk covered

Many economically weaker households in Tiruvottiyur and Tondiarpet and fishermen families at Royapuram now have at least one savings account and insurance cover.

When a 35-year-old fisherman in Royapuram died while fishing off the coast last month, the Department of Posts came to the rescue of the family. Chennai General Post Office had conducted a camp for the fishing community and opened saving bank accounts for 1,800 people.

Alok Ojha, Chief Postmaster, Chennai GPO, said “The fisherman who died had taken insurance cover for ₹2 lakh. Now, we are processing the insurance payout to be given to his mother, who does not have any other means of financial assistance.”

A special desk for transgender persons was also set up. G. Sankari, founder of Nirangal, a non-governmental organisation, said the Chennai GPO must soon start training programmes that will help transgender persons get a source of income.

R. Anand, Postmaster General, Chennai City Region, said: “We have opened 2.43 lakh accounts in Chennai city alone. Savings bank account and recurring deposit remain popular among people. Post offices in Vellore had distributed piggy banks to schoolchildren to inculcate the saving habit. Staff members also visit shopping malls to create awareness of saving schemes. Plans are on to improve services.”