1,695 post offices in J&K, Ladakh being brought under core banking system

Jammu, Feb 28 (IANS) The Department of Posts is seeking to bringg its 1,695 post offices in J&K circle under the core banking system by March 2023.Of these 1695 post offices to be brought under the core banking system, 263 are in urban/semi urban areas and 1,432 in rural peripheries spread across Union Territories of Jammu and Kashmir, and Ladakh.These post offices will be made available for interoperability between the post office accounts and the bank accounts.This follows the announcement made by Prime Minister, Narendra Modi in a webinar held recently.It has been stated that Department of Posts, having a robust financial network in the country, is transforming the lives of the citizens not only in the cities, but in the rural India as well by financial inclusion. These efforts are most noticeable in providing rural poor, especially women, access to livelihood options.The declaration on interoperability between the Post Office accounts and the bank accounts has made the aspired "Anytime Anywhere Banking" a distinct probability by March 31, 2023.
--IANS sq/vd

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