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Photo: x The Finance Minister has said to expand India Post and India Payment Bank

Union Finance Minister Nirmala Sitharaman introduced the second full of the third term of the NDA government. He presented the budget for the eighth consecutive time. During the budget speech, the Finance Minister spoke about the expansion of India Post and India Post Payment Bank. He said, “India Post with 1.5 lakh rural post offices and a huge network of 2.4 lakh post servants will be reinstated to work as a catalyst for rural economy.” Now India Post will also provide loan facility for micro enterprises along with integration of the Rural Community Center, Stalid Accounting Services, DBT, cash and EMI facilities.

Finance Minister Nirmala Sitharaman said that India Post would be converted into a major public logistics organization. It aims to promote rural logistics and development with India Post Payments Bank and 2.4 lakh post servants. India Post will now also provide insurance and aided digital services. The Finance Minister said that India Post would be converted into a huge public logistics organization to meet the growing needs of Vishwakarma, new entrepreneurs, women, self -help groups, MSME Oats.

What is India Post Payment Bank

India Post Payment Bank started in the first term of the Narendra Modi government. This bank provides facility to deposit and withdraw money sitting at home. However, it does not provide services such as credit cards and ATMs. The special thing is that no one needs a separate bank account under this scheme. Any person who has an Aadhaar card. He can take advantage of bank services through this. With the help of postal servants, the people of the village can also withdraw money sitting at home and deposit.

What is the plan now

The Finance Minister has said that India Post will be made a logistic organization. India Post has 1.5 lakh post offices in rural areas. Among them are 2.4 lakh postal workers. India Post with the help of India Post Payment Bank will use its postal workers to bring and carry goods.

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