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India Post brings Internet banking for savings account holders

India Post has launched internet banking services for all the post office savings bank account holders. India Post has introduced the net banking facility to push the digital payments, a step towards digital India.
India Post net banking facility was launched by Manoj Sinha, Union Minister (Independent Charge) of Ministry of Communications, Minister of State in the Ministry of Railways and MP from Ghazipur.

“Launch of Revamped India Post Website, e-Commerce portal and Internet Banking facility for POSB Customers, Disbursement of scholarship under Deen Dayal SPARSH Yojana  & Conferment of Meghdoot award by MoSC (I/C) Shri @manojsinhabjp at National Media Centre, New  Delhi,” India Post said in a tweet on Friday.

India Post internet banking facility, customers will be eligible to transfer funds from one post office savings bank account to another POSB account, it can be either be self-payee or third-party payee. Following the launch of India Post net banking services, users will now be able to make deposits to their recurring deposit (RD) account, public provident fund (PPF) account, etc, from their respective savings bank account. 

Post office savings bank account holders can also transact, open, close an RD account and term deposit accounts via the India Post internet banking facility and further, all the post office savings bank account holders can withdraw funds from the respective PPF accounts, subject to the eligibility.

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