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Governor launches India Postal Payments Bank in J&K

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Says new facility will boost rural economy

Initiative aimed at empowering masses at grassroots level: Dr Farooq Abdullah

 SRINAGAR, SEPTEMBER 01: As a part of nation-wide launch of county’s new banking behemoth, India Post Payments Bank (IPPB), Governor Satya Pal Malik launched the IPPB facility for Jammu and Kashmir at a function organized by the J&K Postal Circle at SKICC here this evening.

Speaking on the occasion, the Governor said that with the launching of Postal banking network, another crown has been added to the rich history of Indian Postal Services. He said despite introduction of internet and other technologies, the relevance of post offices is still intact and it continues to be a major source of communication in the rural and far-flung areas. He expressed happiness on the nation-wide launch of banking services by the Postal Department and hoped that initiative will give further boost to the economic activities in the rural areas where banking services are still not available.

He said it is the vision of the Prime Minister, Narendra Modi to provide banking access to everyone, especially the marginal sections of the society to ensure benefits of various flagship programmes launched for their welfare and launching the Postal Banking service will prove an instrumental in this direction. He observed that rural economy will grow further and people in the rural areas will connect with this network and avail benefits of various government schemes.

The Governor informed that in Jammu and Kashmir, there will be 8 branches of India Post Payment Bank located at Jammu, Kathua, Udhampur, Rajouri, Srinagar, Anantnag, Baramulla and Leh and all these branches will start functioning immediately.  He said all 1.55 lakh post offices across the country will be linked to India Post Payments Bank by December 31. The move is likely to take banking services to India's every corner, said the Governor.

Dr Farooq Abdullah while welcoming the launch of this ambitious programme said that the initiative will give fillip to the rural economic activities and help in implementing welfare schemes at the grass root level. He said post offices are the basic institutions connected with the common man and adding financial services is a step-in right direction which will directly help the rural population and meet their requirements.

He said the post offices are still rendering valuable services across the country and even more relevant in the rural areas. He appreciated the Government of India for further strengthening these ground level financial institutions.

The Post Master General, J&K briefed about the features of IPPB and said that IPPB will cover the services like paperless banking with most secure Aadhaar enabled transactions and doorstep banking which is trust of India Post. The services like transferring of subsidies, scholarships, pension etc which will directly go in the account holders are also available. He said the main objective of the scheme is to bring all people in the ambit of banking channel. The targeted segments are various beneficiaries of welfare schemes of Central/State Government, migrant workers, cooperative societies, dairy federations, old age pensioners, merchants, students, homemakers etc. This is a simple banking and no surcharges on account of ATM/SMS and non-maintenance of balance will be charged from the costumers.

The Postmaster General also presented mementoes to the Governor and Dr Farooq Abdullah on the occasion.

A special cover on ‘Financial Inclusion’ was released on the occasion by Governor and Dr Farooq Abdullah.

At the launch event, live opening of IPPB accounts of local artisans was done and QR Cards were distributed to account holders by Governor and Member of Parliament, Srinagar.

IPPB will leverage the network of 1.55 lakh post office branches to provide banking and financial service to people all over the country. This will create the country’s largest banking network with direct presence at village level. It is an extension to the Jan Dhan Yojana which brought the country in the folds of banking system. IPPB is taking the bank to citizen’s doorstep.

The salient features of IPPB which includes paper less banking with most secure Aadhaar enabled transactions and door step banking, trust of India Post, Payment Bank for Government of India. It can also be used for transferring benefits (subsidies, scholarships, pension etc) directly in the account holder account aimed at targeting the unbanked millions who are still outside the formal banking channel. The targeted segments are various beneficiaries of welfare schemes of Central/State Government, migrant workers, cooperative societies, dairy federations, old age pensioners, merchants, students, homemakers etc.

“Local bodies polls will empower people of J&K”

Srinagar: Panchayat and local bodies polls are for the empowerment of the people of the state who should help in the smooth conduct of the exercise, Jammu and Kashmir Governor Satya Pal Malik said here Saturday.

"Best arrangements will be put in place for the polls and people should help us. I want to tell the people that these (elections) are for them, they will empower them and it is for them and not us,” Malik told reporters on the sideline of a function on the launch of the country's new banking behemoth, India Post Payments Bank (IPPB) at SKICC.

Asked if the atmosphere was conducive for the polls, he said that "everything depends upon the people".

“When people decide, the atmosphere will be good. We will make excellent arrangements, whatever we can do, we will,” he said.

Elections to municipal bodies will be conducted in four phases with polling between October 1 and October 5. Elections to panchayats will be conducted in eight phases with polling between November 8 and December 4. 

New Delhi made many mistakes on Kashmir: Farooq

Srinagar, Sep 1 (PTI) Alleging that New Delhi has made "many mistakes" on Kashmir, National Conference (NC) president and MP Farooq Abdullah on Saturday said steps should be taken to win the hearts of the people.

He said it hurts people of the state whenever issues like "revocation" of Article 35-A are raised.

"It is not that Delhi has not made any mistakes. It has made many mistakes. What is the need to revoke (Article) 35-A? Why? People are hurt because of such things. If you want to connect hearts, then you have to do things which can win the hearts of the people. You cannot win without that," Abdullah said here.

The former Union minister was speaking at a function at the Sher-i-Kashmir International Conference Centre (SKICC) here.

Abdullah, without naming anyone, said there were certain powers who do not want peace in the valley as their "livelihood flourishes on violence".

"One day, a decision (on Kashmir) will be taken, but we should also try to stand on our own feet (till then). It is not easy, some people will not let it happen. Those powers who live on our blood, will not want to have peace here. They want to keep peace very far from us," he said.

The NC president said the upcoming local bodies and panchayat polls were for the betterment of the people of the state.

"The government has announced panchayat and town area committee elections. This is not a decision for India or Pakistan. This is a decision for making your own life better - whether you want to make your village better, address peoples' problems or not.

"Many outfits will try to not have these elections because their livelihood comes from our miseries. You see, hotels and houseboats are empty. Gulmarg, Pahalgam and Sonamarg are crying and traders are crying. There is nothing. For how long we will have to suffer," he said.

The Member of Parliament from Srinagar appealed to the people to join hands and take the state out of morass.

"If you do not want that (to make future better) and want to go towards destruction, then there is no one to stop you. But, if you want to make the future of your children and compete with those from India, then bring them to the level where they can compete.

"They cannot do it if our schools remain closed. If you really want to change the future of this state, then first try to make the future of your children better," he said.

Abdullah hoped that a day will come when peace will return to the valley.

"I am sure that a day will come when we will live in peace and also with the country which is called Pakistan as we have a deep relation with them, all of our water goes towards them.

"A day will come when the relations between India and Pakistan will become stronger and we will come out of this misery. But for that, you will have to be prepared. You have to prepare for the municipal and panchayat polls. Elect good people and not those who will take your money and fill their pockets," he said.

When asked whether it was the right time for the polls keeping in view the prevailing situation in the valley, the NC president said, "I don't know if it is a right time or not, but the dates have been announced".

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