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Online funds transfer service between postal, bank accounts in pipeline: Govt 

Online funds transfer service between postal, bank accounts in pipeline: Govt 

Minister of State for Communications Devusinh Chauhan added that 1, 52,514 post offices have already been brought under the core banking system out of 1, 58,526 post offices across India.

Chauhan also told the lower house that the government is taking steps to provide connectivity via intermediate data rate (IDR) connectivity, virtual private network (VPN) connection and other means in post offices located in rural areas Chauhan also told the lower house that the government is taking steps to provide connectivity via intermediate data rate (IDR) connectivity, virtual private network (VPN) connection and other means in post offices located in rural areas

A service allowing the online transfer of funds between postal and bank accounts as part of 'anytime-anywhere Post Office Savings' is in the works, the government informed the Parliament on Wednesday.

Responding to a question on service allowing online transfer of funds between postal and bank accounts under the “Anytime-anywhere Post Office Savings” service, Minister of State for Communications Devusinh Chauhan told the Lok Sabha that the government is working towards providing NEFT and RTGS facilities for online transfer of funds from post office accounts to bank accounts and vice versa.

He added that 1, 52,514 post offices have already been brought under the core banking system out of 1, 58,526 post offices across India.

Chauhan also told the lower house that the government is taking steps to provide connectivity via intermediate data rate (IDR) connectivity, virtual private network (VPN) connection and very small aperture terminal (VSAT) connectivity and provision of subscriber identification module (SIM) based handheld and point of sale (PoS) devices in identified post offices located in rural and hilly areas.

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