Friday, December 9, 2022

Budget 2022 Online transfer of funds between post office and banks impact on sukanya samriddhi yojana ppf ac – Business News India

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If you are associated with the post office through a small saving scheme like Sukanya Samriddhi Yojana or Public Provident Fund (PPF), then this news is for you. In fact, in the general budget, Finance Minister Nirmala Sitharaman has focused on digitizing 1.5 lakh post offices of the country 100%.

Finance Minister Nirmala Sitharaman announced that post office accounts will be brought under the purview of core banking. It will be possible to transfer money from post office accounts to other bank accounts. Apart from this, your account can be viewed through Net Banking, Mobile Banking, ATM. This means that you can check the accounts of the post office.

This decision of the government will facilitate ‘inter-operability and financial inclusion’ especially for farmers and senior citizens living in rural areas. At the same time, account holders coming under the purview of Small Savings Scheme will also be able to do other things including online payment.

Digital Bank: To celebrate 75 years of independence of the country, the government has proposed to set up 75 digital banking units in 75 districts of the country by scheduled commercial banks. The objective is to ensure that digital banking is accessible to all parts of the country in a consumer friendly manner.

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