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Implementation strategy to ensure 100% core banking system for post offices: Budget Webinar

by Economy India
February 24, 2022
Reading Time: 2 mins read
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Use of postal network for delivery of financial and banking services under aegis of Ministry of Rural Development also discussed

Post Budget Webinar on “Leaving No Citizen Behind” was organised yesterday. Budget announcement related to bringing 100 percent post offices on core banking system and interoperable post office account and its impact on the lives of rural poor especially women was discussed.

Prime Minister, Narendra Modi addressed inaugural session of the webinar. The session on “Anytime Anywhere Banking Services and Interoperable Services through India Post” under “Assuring all rural poor especially women access to livelihood options and access to financial services” was chaired by Minister of Rural Development and Panchayati Raj, Giriraj Singh.

It was attended by experts from NITI Aayog and other agencies, and by a large section of people and stakeholders associated with post office schemes from different part of the country.

A wide range of discussion took place on implementation strategy to ensure 100 percent core banking system along with deployment of interoperable service for post office accounts.

The participants also discussed ways to explore possibilities of the use of postal network for delivery of financial and banking services under aegis of Ministry of Rural Development. Ajit Pai, Distinguished Expert from NITI Aayog stressed that the post office can play a significant role in the area of credit, financial literacy and overall achievement of financial inclusion.

Department will prepare a detail roadmap to ensure timely implementation of the action items emerging out of the discussion in the webinar. (PIB)

Tags: Budget WebinarCore Banking SystemEconomy IndiaLeaving No Citizen Behind
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

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