What is Bulk Posting in SBI?

Answer: Bulk posting is a technical phrase commonly used in the banking industry. Bulk posting entails regularly crediting funds in several accounts at the same time. Money is credited to many accounts from a single source throughout this process. For example, the government announces any agricultural subsidies, pensions, or other benefits. Alternatively, any business company or institution might transfer their employee’s salary.

A series of transactions are generated in which the amount is debited from the employer’s account and credited to the accounts of multiple different employees.

This is done to reduce the amount of time needed for the process. As you are well aware, SBI has millions of consumers. As a result, when a payment is due for a government plan such as MGNREGA, the number of recipients might number in the thousands. Instead of entering individual account numbers, the bank will simply utilize a computerized database of beneficiary account numbers and do bulk posting transactions. The entries are performed electronically and saved in a certain sequence in a file. The entire file or batch is then processed with a computerized command to post to all of the mentioned accounts.

If any of these transactions involves 100 or more submissions for the same reason, they will be considered bulk posting.

Bulk posting lets you credit numerous accounts from a single source.

Significant time and effort are saved, which speeds up transactions. Bulk posting can be used to debit the manager’s account and credit the worker’s account. If the balance is high, it will also aid in increasing the dividend.

Furthermore, in the case of organizations like the State Bank of India, bulk posting may assist in managing a bank account with a minimum requisite balance, making it easier to transfer cash.