DIGITISATION OF POST OFFICE SAVINGS SCHEMES
By PIB Delhi
Minister of State for Communications and Rural Development, Dr. Pemmasani Chandra Sekhar, in a written reply to a question in the Lok Sabha today, said that the Department of Posts, through a network of over 1.64 lakh post offices, serves more than 45 crore Post Office Savings Bank (POSB) account holders. To modernize and digitize Post Office Savings Schemes, Core Banking Solution (CBS) along with digital services such as ATMs, internet and mobile banking, online account opening/closure, deposits, real-time balance inquiry through online banking, fund transfers through NEFT/RTGS, IPPB–POSA linkage, etc., have been enabled in POSB through its CBS platform. In addition to facilities given to POSB customers, India Post Payments Bank (IPPB) is offering its customers a range of services such as savings and current accounts, virtual debit cards, domestic money transfer services, bill and utility payments, insurance services for IPPB customers, online payment for post office savings schemes, digital life certificates (DLC), Aadhaar enabled Payment System (AePS), mobile number updates in Aadhaar for any citizen, and child enrolment services for any child of 0-5 years old. All these services are contributing towards enhancing ease of access, transparency, and financial inclusion. All post offices are working on a digital platform.
The Department of Posts, through internet banking, enables transactions under the scheme such as National Savings Certificate (NSC), Kisan Vikas Patra (KVP), and Senior Citizens Savings Scheme (SCSS). These initiatives have improved customer convenience and enhanced ease of operations.
