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  1. All post office branches to be linked with IPPB in 5 months, says Telecom Minister Manoj Sinha

All post office branches to be linked with IPPB in 5 months, says Telecom Minister Manoj Sinha

The Department of Posts will link all post office branches with the India Post Payments Bank (IPPB) in the next 5 months to provide full fledged digital banking services across the country, Union Telecom Minister Manoj Sinha said today.

By: | New Delhi | Published: April 17, 2018 10:10 PM
Manoj Sinha, post offices branches, Telecom Minister, post office branch link IPPB, banking network, DARPAN PLI app The minister launched the postal insurance app which will enable people in rural areas to pay for insurance premium and get the receipt instantly. (PTI)

The Department of Posts will link all post office branches with the India Post Payments Bank (IPPB) in the next 5 months to provide full fledged digital banking services across the country, Union Telecom Minister Manoj Sinha said today. “There are two India Post Payments Bank operational and soon we will start another 648 of its branches at all district centres. All 650 post payments bank will be connected to rural post offices. With this, in coming five months there will be 1.5 lakh more new banks. We will facilitate functions similar to those done by big banks,” Sinha said while launching an app for insurance service of the postal department.

He said this will create huge financial services network for rural areas. Sinha said IPPB branches will start functioning after technology vendor completes the work of operating the banking network. The minister launched the postal insurance app which will enable people in rural areas to pay for insurance premium and get the receipt instantly.

“Premium of post office insurance is less than that of LIC and we pay more bonus. We have opened Postal Life Insurance for professionals also. In last four months, the revenue of insurance service with new customers has increased by Rs 6 crore. With DARPAN-PLI app, people can pay premium through it and their account will be immediately updated,” Sinha said.

The app will be downloaded by post masters on their handheld device which is being provided to over 1.29 lakh rural post offices with a total outlay of Rs 1,300 crore. The DoP has provided handheld devices to 61,941 branch offices and it will be provided in rest of the rural post offices by December.

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  1. Partha Tewari nice
    Apr 18, 2018 at 7:16 pm
    Nice plan...
    Reply
    1. Y S Gajre
      Apr 18, 2018 at 10:47 am
      To The Hon minister, Kindly come after 5 months and give your comments on what u have planned since yr post office in konkan bhavan Navi Mumbai do not have facility of neft n rtgs.we give our cheque for opening of FD account and it takes 4 to 5 days to credit in the account of post office thru SBI even after debiting from our account it takes min 2 days n we loose our interest. Hope what u are planning will come true with present limited staff n over crowded post office due to lack of office space.Your Regional heads must visit post offices and carry out inspection n give report as to what are the additional things required to complete your 5 months project. Y.S.Gajre Core88ys@yahoo.co
      Reply
      1. Sushil Kumar
        Apr 18, 2018 at 4:08 am
        Good
        Reply

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