India Post Payments Bank will help in financial inclusion-Manoj Sinha

Minister for Communications Shri Manoj Sinha said that Government is working on setting up 650 India Post Payments Bank and gearing up fast to provide its financial services through all of 1.55 lakh post offices to fulfil the Prime Minister's vision of financial inclusion. He said that Indian Postal Department is undergoing major transformation with changing times, be it the inter-operability of ATMs, core banking or providing of Passport Seva and Aadhar enrolment. He said that so far 57 Post Offices are providing Passport Seva and in coming days 93 more will be added to the list.

Shri Sinha launched International Tracked Packet service designed specially to meet the cross border requirements of e-Commerce sector in Asia-Pacific Region. He said, at the beginning, the service will be available to 12 countries and gradually the whole world will be covered. This new service has many special features like affordable price, track & trace, volume discounts, pick up facility, compensation for loss or damage and, therefore, high value for money.He said, with the launch of this service, Department of Posts is set to start a new chapter of close collaboration between the post office and the business in India that want to reach to their customers abroad.

The Minister also launched e-IPO (Indian Postal Order) in the denominations of Rs. 10/-, Rs. 20/-, Rs. 50/- &Rs. 100/-, as a pilot project in Bihar, Delhi and Karnataka and said that in the next two months, the service will cover the entire country.e-IPO will be used for all purposes like fee payment for RTI/ educational institutions/ Court/ online registration for Cable Operators etc. Customer can purchase e-IPO online from one's home or workplace, as per one's convenience. This launch is a part of Digital India Initiative as the payment will be made through Debit Card/ Credit Card / Net Banking.eIPO can be purchased online at:https://www.epostoffice.gov.inor, it can also be accessed through a link at Official website of India Post i.e. https://bsmedia.business-standard.comwww.indiapost.gov.in

Powered by Capital Market - Live News