Do you have a savings account ...? So reading this is essential for you.
There is a great news for people who have a savings account in the post office throughout the country. The person who has an account in any post office in the country will be able to benefit from the new facility.
Let us tell you that there are currently 34 crore savings accounts in India. All these account holders are entitled to the benefits of the digital banking service by May next month, this facility was only available to meet in the bank only.
By getting this facility you can operate your post account and bank account at home. Through this medium you are entitled to the benefit of facilities like transfer of money, RTGS. According to a well-known official of the post, the Finance Ministry has been allowed to start this facility.
This facility will facilitate banking and post office transactions. According to the official, the finance ministry has also been approved to link post savings accounts to IPPB accounts. Now the bank account holder can transfer money from a post office.
There are 17 crores savings accounts in India's post office, while there are several accounts like other monthly income accounts, recurring deposit accounts. This decision of the government will expand the big bank network in the country.
It is worth mentioning that today India Post-Core Banking Service has started. But it was possible to transfer money only from post savings accounts. Since the POSB account will be linked to the IPPB, other customers will be able to transfer money just like other banks. This facility will be started by the country by May next.
Read the original source