Field Visit An Experiential Learning at the Post Office

Date: 6 Feb 2019

Time: 11:30 am to 1:30 pm

Venue: Post Office, Udayapura

Class: Second Year B.Com & BBA

No. of students: 23

Faculty in charge: Prof Hari Krishna

Objective: To understand the financial services provided by the post office

Learning Outcome: Students got an insight to the financial services provided by the post office and USP of the schemes provided by the post office in comparison to a bank

For an experiential learning in courses such as finance and accounts, Final Year BCom students visited the post office to understand the financial services offered by the post office.

Visiting a post office was altogether a great learning experience especially in these times of email! Although post is an ancient form of communication, yet the Indian Postal System has evolved with times. At first, students were given a brief by the postal clerk about the various activities carried out at the post office-dispatch and delivery of letters, parcels, money-orders, registered and insured letters, etc.

The post mistress, Ms Sangeetha introduced the financial services offered by the post office such as Postal Life Insurance and Post office savings schemes-savings account, recurring deposit., time deposit account, monthly income scheme and Public Provident Fund account to the students.

Students also understood the USP of schemes provided by the post office- its sovereign guarantee! The various types of deposit schemes - National Savings Certificate: its Interest Rate and Tax Benefits and schemes benefiting some sections of the population- Senior Citizens Savings Scheme, Sukanya Samriddhi Accounts and Kisan Vikas Patra.

Along with a plethora of products that offer reliability, Ms Sangeetha informed the students that post office also provides loans .With an overview of the Post Office financial services, students pursuing Finance and accounts understood the benefits accrued from a Post Office as compared to the nationalized and private banks. They thanked the post mistress for the information. 

The visit was truly an eye-opener to the BCom students.