AMN / WEB DESK
OfficeThe government has said that it is in the process of setting up Anytime-Anywhere Post Office Savings scheme, which will allow online transfer of funds between postal and bank accounts. Around 96 percent of post offices across the country have been brought under the core banking system (CBS), in order to implement the “Anytime-Anywhere Post Office Savings” service. There are a total of 1,58,526 post offices in India, out of which 1, 52,514 post offices, or 96 percent of them have already been brought under the CBS, official sources informed. This will not only help the existing post office savings account holders but also encourage new individuals to open up a savings account with ease, sources said.
The government is also working towards providing national electronic funds transfer (NEFT) and real-time gross settlement (RTGS) facilities for online transfer of funds from post office accounts to bank accounts and vice versa, official sources said.
In addition to this, the government is also taking steps to provide connectivity via intermediate data rate (IDR) connectivity, virtual private network (VPN) connection, and very small aperture terminal (VSAT) connectivity. It is also ensuring the provision of subscriber identification module (SIM) based handheld and point of sale (PoS) devices in identified post offices located in rural and hilly areas, official sources said. These facilities will help allow a smooth implementation of the AnytimeAnywhere Post Office Savings service.