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In a similar vein, Bernie Sanders and others have backed proposals for postal banking.
by xkeysc0re 5y ago
In a similar vein, Bernie Sanders and others have backed proposals for postal banking.
- filoeleven 5y agoLots of countries do or have done it, including the US from 1911 to 1967. Restoring it would destroy the payday lending industry, which IMO would be a good thing. https://en.m.wikipedia.org/wiki/Postal_savings_system https://en.m.wikipedia.org/wiki/Postal_savings_system
- canadianfella 5y agoWhy would it destroy payday lending?
- truth_ 5y agoIndia has very reliable Post Office banks. Although the interest rate is low, the money there is safe. It serves a huge amount of people, especially in rural areas and underprivileged people. Speed Post is very reliable as well. > India has the largest Postal Network in the world with 154,965 Post Offices (as on 31.03.2017) of which 139,067 are in the rural areas. At the time of independence, there were 23,344 Post Offices, which were primarily in urban areas. Thus, the network has registered a seven-fold growth since Independence, with the focus of this expansion primarily in rural areas. On an average, a Post Office serves an area of 21.56 Sq. Km and population of 7753 people. It also provides safe, steady jobs to a lot of people.