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Aurangabad division’s first postal bank coming up at Juna Bazar

AURANGABAD: Aurangabad division's first bank of postal department is coming up at Juna Bazar in the city. It will be operational in April 2017 and offer all banking facilities accept loans and credit cards. S S Lingayat — assistant Director postal services - confirmed the development and said the new bank is coming up on 1100 square feet space in the premises of Juna Bazar post office.

"Customers may open saving and current accounts in the banks quite similar to that of accounts in nationalised and private sector banks," he said. The Aurangabad division of the postal department comprises of eleven districts including Jalna, and Parbhani among other districts.

For the past few months, the postal department is launching various initiatives apparently to prepare grounds to make its foray in banking sector effective. Last year, the Aurangabad head post office had rolled out the facility of core banking solution (CBS) service benefiting more than one lakh account holders

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