DoP Vijayawada savings deposits at Rs 10754cr

The Vijayawada region of AP Circle of the Department of Posts (DoP) registered savings deposits worth Rs 10,754 crore at the end of 2005-06 financial with contributions made by 39,00,495 account holders.

The region mopped up 3,61,795 new accounts and Rs 87 crore under its various savings schemes in 2005-06.

B V Sudhakar, regional post-master general, told Business Standard that while the number of customers increased from 35,36,700 (March 31, 2005) to 39,00,495, the amounts they deposited with 4,470 post-offices in Krishna, Guntur, Prakasam, Nellore, West Godavari and Khammam districts of the region rose to Rs 10,754 crore from Rs 10,667 crore.

The schemes, which pooled the amounts, were savings bank (9,69,692 accounts), recurring deposit (21,39,189 accounts), cumulative time deposit (2,271), time deposit (1,38,861), public provident fund (15,120), monthly income scheme (6,07,199), national savings scheme-92 (2,901), national savings scheme-87 (2,514), senior citizens savings scheme (3,108) and mahila samhruddi yojana (19,640).

The business development in respect of premium products such as speed post, express parcel post, business post, logistics post and direct post increased to Rs 19.95 crore as against the target of Rs 19.55 crore, when compared to last year's (2004-05) business of Rs 13.95 crore.

Under international money transfer service (IMTS), the branches undertook 21,057 transactions at 229 IMTS centres in the region. And in 2006-07 till now, 15,800 such transactions took place, he said.

The region booked 1,19,800 articles at Bhadrachalam during Sriramanavami in 2005 and earned Rs 58.45 lakh. During the same festival in 2006, the department booked 3,39,344 articles and earned Rs 1.70 crore. During 2005 Dasara , it booked 1,50,072 articles in Vijayawada and earned Rs 75.04 lakh.

The Logistics Post cargo service, launched in October 2005, earned Rs 2.92 lakh on 98 consignments in 2005-06 and Rs 0.51 lakh on 14 consignments so far in 2006-07. The region also introduced prasadam package at Dwaraka Tirumala Devasthanam and earned Rs 0.07 lakh. The post-offices also collected cheques for TVS, Bajaj Finance and Shriram Finance.

He said wage earners opened 56,605 accounts with post-offices in Khammam district under the National Rural Employment Guarantee Scheme (NREGS) and deposited Rs 23,30,250. This amount included 6,060 wage deposits cumulating to Rs 29,94,870.