Indian Post Office News

If you have a Post Savings Account, you do not need to worry about online transactions. This is because the Indian Post Department has now released the IFSC code just like the bank. It also has the same code for each branch with which the account holder having Savings account in the post will be able to transact from anywhere with less details. Thus each branch has become the only post section having an IFSC code.

If you have an account at Indian Post Office, you will now be able to transact online just like any other bank. Because IFSC code has been issued by Indian Post. Due to which the customer having an account in Indian Post will be able to use the facility of NEFT and RTGS. The country has seen a sharp rise in online transactions since the Corona era. With this in mind, the Indian Post Department is also now moving towards digitalisation. As part of which IFSC code has been issued.

So far we have seen that every bank branch has a different IFSC code. With the help of which transactions can be done in various banks. Which was a problem to remember. To overcome this problem and so far post account holders could only transact in post. This feature has been started by the Post Department to eliminate that problem as well. The postmaster of Navrangpura said that the code has been a nounced so that the post savings account holder can transact in another bank. So the people also welcomed this facility and with this new system the post bank holder also said that they do not have to push the post bank any more.

Online transactions can be done as per RBI guidelines

Post office account holder will be able to do NEFT and RTGS free of cost. The account holder will have to pay the prescribed charge for the NEFT transaction. Also, all transactions including NEFT have to be done as per RBI guidelines. Not only that but the insurance that we take from this facility which matures as well as if a certificate matures, we had to process the check to get the amount and it took time. With this, a new system has been introduced in the post bank account. The amount of insurance and certificate will be credited directly to the account. Which is an additional edition of the post section other than the IFSC code. This means that post account holders will now have access to postal services, bank facility, ATM facility and now online transaction facility. The Post Department believes that this will directly benefit the bank account holders of Post.