Media Release

Bengaluru, Mar 4: In 2022, 100 per cent of 1.5 lakh post offices will come on the core banking system enabling financial inclusion and access to accounts through net banking, mobile banking. ATMs, and also provide online transfer of funds between post office accounts and bank accounts. This will be helpful, especially for farmers and senior citizens in rural areas, enabling inter-operability and financialinclusion."
Above is the excerpt from Budget Speech of Hon ble Finance Minister for the year 2022-23)

A webinar on implementation of Budget Announcement was organised by Ministry of Rural Development (MoRD) on February 23, 2022, involving various other ministries including Department of Posts. Chief Postmaster General, Karnataka circle participated.
in the meeting and some of the highlights of the meeting are as follows:

1. The meeting was inaugurated by the Hon'ble Prime Minister of India. Special emphasis was laid out on the need for co-ordination of all Government agencies and stake holders at Gram Panchayat levels.

2. Digital financial inclusion in rural areas and improvement in participation of women was emphasised upon. Department of Posts shall take lead in spreading the awareness.

3. Core Banking System services should be made available at all offices including Branch Post Offices at rural areas. Opinions of stake holders such as SAS/MPKBY agents, POSB customers, SHGs and banking experts were taken during the webinar on implementation of budget announcement.

5. Karnataka Postal circle has actively taken up financial inclusion through various large scale projects such as disbursement of Social Security Pensions through nearly 28Lakh POSB (Post Office Savings Bank) accounts and opening of Sukanya Samriddhi Accounts for 1,56,056 beneficiary girl children of Bhagyalakshmi scheme of Karnataka State Government during the last financial year.