Department of Post (DoP), which oversees the activities of IndiaPost, has launched an eBanking portal that will allow account holders in Post Office Savings Bank (POSB) to avail internet banking services without visiting the branches, reports Financial Express (FE).
This facility will also be extended to Recurring Deposit (RD) accounts, Public Provident Fund (PPF) accounts, Time Deposit (TD) accounts and National Savings Certificate (NSC) accounts. Users will be able to access actions like accounts summary, viewing transactions, managing payees, initiate fund transfer within DOP etc. More details can be found here.
It was reported in April 2018 that 34 crore post office savings account holders were granted digital banking services by DoP by linking these accounts with India Post Payments Bank (IPPB).
Union Communications Minister Manoj Sinha, recently also launched an e-commerce portal under the DoP, to provide a platform to rural artisans and public sector units to sell their products.
“The primary objective is to provide a medium to sell products for small artisans. However, anyone who wants to sell their product can sell on the site. We have not set any limitation.” India Post delivers products to over 1.5 lakh pin codes across the country.
Also Read: The ‘Post’ With The Maximum ‘Likes’
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.