Post Office launching digital banking services; to go digital from May

Post Office of India boasts of over 340 million saving account holders and in a major news that will help the account holders majorly, the account holders now will be able to avail a digital banking services at Post offices from May as the Finance Ministry has  approved the linking of all the accounts with IPPB (India Post Payments Bank).

“The  finance  ministry has approved linking of savings bank accounts at post offices with IPPB accounts. This will enable post office account holders to transfer money from their account to any bank accounts…,” an official source told PTI.

The move also paves the way for creating of country’s largest banking network as  India Post  has plans to link all 155,000 post office branches with the IPPB.