India Post Payments Bank to promote financial inclusion: Sinha

Press Trust of India  |  New Delhi , October 9, 2017 

Communications Minister Manoj Sinha today said the government is working on establishing 650 branches for India Post Payments Bank to facilitate financial inclusion, and unveiled two new offerings by the postal department. 

"For India Post Payments Bank...we will be opening nearly 650 branches across India. Two, namely in Raipur and Ranchi, have already started. The aim is that through 650 post payments bank, we can push financial inclusion in 1.55 lakh villages," Sinha said. 

Sinha exhorted the postal employees to continue reorienting themselves with technological changes and disruptions in order to bring innovative offerings to consumers, all the while upholding the societal values. 

"With the way technology is changing and given the disruptions, it is good to link yourself with technology but department's values too have to be maintained, and that is the biggest challenge," he said highlighting the long history of Indian postal services, particularly the significance of the postman in rural India.

The minister who was speaking at an event to commemorate National Postal Week (October 9-15) also announced two new offerings - International Tracked Packet Service and e-IPO (Indian Postal Order). 

The e-IPO was launched in denominations of Rs 20, Rs 50 and Rs 100 and now can be used for fee payment for educational institutions and other purposes. Earlier, e-IPO of Rs 10 could be used for RTI purposes only. 

The e-IPO has been rolled out as a pilot project in Bihar, Delhi and Karnataka and is expected to be launched in the entire country in the next two months. 

"Customer can purchase e-IPO online from ones home or workplace, as per ones convenience. This launch is a part of Digital India initiative as the payment will be made through debit card, credit card, net banking," Department of Post said in a statement. 

The minister said the Indian postal department has undergone a major transformation over the years, be it inter- operability of ATMs, core banking or providing of Passport Seva and Aadhaar enrolment. 

He said so far 57 post offices are providing Passport Seva and in the coming days 93 more will be added to the list. 

On the other hand, the International Tracked Packet service aims at meeting the cross border requirements of e- commerce sector in Asia-Pacific Region. The service will be available in 12 countries initially. 

"This new service has many features like affordable price, track and trace, volume discounts, pick-up facility, compensation for loss or damage...," the statement said adding India Post website too has been revamped making it more user- friendly and informative.

Press Information Bureau
Government of India
Ministry of Communications
09-October-2017 15:31 IST

India Post Payments Bank will help in financial inclusion-Manoj Sinha

Minister for Communications Shri Manoj Sinha today said that Government is working on setting up 650 India Post Payments Bank and gearing up fast to provide its financial services through all of 1.55 lakh post offices to fulfil the Prime Minister’s vision of financial inclusion. Speaking here on the occasion of World Post Day, he said that Indian Postal Department is undergoing major transformationwith changing times, be it the inter-operability of ATMs, core banking or providing of Passport Seva and Aadhar enrolment. He said that so far 57 Post Offices are providing Passport Seva and in coming days 93 more will be added to the list.

Shri Sinha launched International Tracked Packetservice designed speciallyto meet the cross border requirements of e-Commerce sector in Asia-Pacific Region. He said, at the beginning, the service will be available to 12 countries and gradually the whole world will be covered. This new service has many special features like affordable price, track & trace, volume discounts, pick up facility, compensation for loss or damage and, therefore, high value for money.He said, with the launch of this service, Department of Posts is set to start a new chapter of close collaboration between the post office and the business in India that want to reach to their customers abroad.

The Minister also launched e-IPO (Indian Postal Order) in the denominations of Rs. 10/-, Rs. 20/-, Rs. 50/- &Rs. 100/-, as a pilot project in Bihar, Delhi and Karnataka and said that in the next two months, the service will cover the entire country.e-IPO will be used for all purposes like fee payment for RTI/ educational institutions/ Court/ online registration for Cable Operators etc. Customer can purchase e-IPO online from one’s home or workplace, as per one’s convenience. This launch is a part of Digital India Initiative as the payment will be made through Debit Card/ Credit Card / Net Banking.eIPO can be purchased online at:https://www.epostoffice.gov.inor, it can also be accessed through a link at Official website of India Post i.e. http://www.indiapost.gov.in

Shri Sinha also unveiled the revamped website of the India Post which is made more user-friendly and informative to meet the need of customers in a better way. The citizens shall benefit by getting relevant information fast and in a user- friendly manner.

            During the function, commemorative stationery in the Post Card, Inland Letter and Envelope Category, each featuring five postal heritage buildings viz. Patna G.P.O, Delhi G.P.O, Mumbai G.P.O, Shimla G.P.O & Kolkata G.P.O.was also issued.For the first time, the stationery has been issued in multi-colour format.

Members of Parliament Ms. MeenakshiLekhi, Dr.Udit Raj and Shri Ramesh Bidhuri graced the occasion as guest of honour. Secretary (Posts) Shri A. N. Nanda and Member (Planning) Ms. MeeraHanda were also present on the occasion.

India Post celebrates the National Postal Week every October from 9^th to 15^th October, starting with World Post Day which is celebrated each year on 9^th October, the anniversary of the establishment of the Universal Postal Union (UPU) in 1874 in Berne. The purpose of World Post Day is to create awareness of the role of the postal sector in people’s and businesses’ everyday lives and its contribution to the social and economic development of countries. Moving a step ahead, Department of Posts celebrates National Postal Week undertaking programme/ activities aimed at generating a broader awareness of its role and activities among the public and media on a national scale.