After installation PostgreSQL is listening on localhost only. To change that adjustment has to be done in postgresql.conf.

Default location of configuration file /var/lib/pgsql9/data/postgresql.conf.
Following line has to be added:

listen_addresses = '*'

After that just restart PostgreSQL and now it wil lrespond on all IP addresses.

[root@ip-10-5-1-1 data]# service postgresql restart
Stopping postgresql service: [  OK  ]
Starting postgresql service: [  OK  ]
[root@ip-10-5-1-1 data]#

Now remote management is possible 🙂