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If you are connected to the post office through small savings schemes like Sukanya Samriddhi Yojana or Public Provident Fund (PPF), then this news is for you. In fact, in the overall budget, Finance Minister Nirmala Sitharaman has focused on making 1.5 lakh post offices 100% digital in the country.
Finance Minister Nirmala Sitharaman announced that post office accounts will be brought under the purview of central banking. It will be possible to transfer money from email accounts to other bank accounts. Apart from this, your account can be viewed through net banking, mobile banking, ATM. This means that you can check the post office accounts.
This government decision will facilitate ‘interoperability and financial inclusion’, especially for farmers and older people living in rural areas. At the same time, account holders who use the Small Savings regime will also be able to do other things, including paying online.
Digital Bank: To celebrate 75 years of the country’s independence, the government has proposed to establish 75 digital banking units in 75 districts of the country by scheduled commercial banks. The objective is to ensure that digital banking reaches all parts of the country in a consumer-friendly manner.