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.
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