Extracts from PIB Release dated 26th December, 2012
Contributing to the financial inclusion of the rural people:
(A) Wage disbursal under Mahatma Gandhi National Employment Guarantee Act (MGNREGA): Extensive rural postal network of the country is actively engaged in disbursal of wages of MGNREGA with high levels of efficiency. During the year 2012-13 the Post Offices disbursed about Rs 9,133 crore by October, 2012 through about 5.53 crore savings accounts of MGNREGA workers standing in the Post Offices. Thus, the Department of Posts significantly contributed towards the success of this unique social security arrangement of unprecedented scale.
(B) Financial Inclusion of Below Poverty Line (BPL Household:Department of Posts leveraged its network and outreach to financially include BPL households by targeting them for opening their savings accounts in the Post Offices and thus providing them with access to savings services. During the Year 2012-13 more than 1.53 crore households were financially included through this initiative by October, 2012.