Digital Banking services are enabled for Post Office saving account holders since may this year. Post launching of digital services, all the post office account holders will be able to transfer funds to any banks in India. The government has approved linking such accounts with that of India Post Payments Bank (IPPB). Once the linking of post office saving bank accounts are done with IPPB, it will automatically enable digital banking services. The service will be optional. If post office account holders opt for it, their account will be linked to their IPPB account.
How to Link Aadhaar with India Post Bank Account, NSC, KVP etc
Key Highlights :
There are 34 crore savings accounts comprise 17 crore post office savings bank accounts and rest are those subscribed monthly income scheme, recurring deposits etc. After the linking Indian Post Payment Bank will be the country’s largest banking network with 1.55 lakh post office branches.
How To Activate Post Office Mobile Apps ?
IPPB customers can use NEFT, RTGS and other money transfer services as available for any banking customers. The IPPB has also started accepting the merchants like grocery store, tickets etc for accepting the digital payment with the help of applications.
