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Core banking services at post offices

Posted on 18 June 2019,    
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Core banking services at post offices

There is a proposal to introduce Core Banking Solution (CBS) in 4,000 post offices for ensuring “anytime, anywhere and any branch banking” in these 4000 post offices.  There is a financial outlay of Rs.106 crores for development of CBS software, customer relations management, training, project management unit, centralised back office etc. during the 11th Five Year Plan.  The project aims at provision of delivery channels like ATM, internet, phone and mobile banking services besides streamlining  the existing operations of savings schemes /savings certificates.  Till now, 117 officers have been imparted CBS appreciation training and 60 operative officials have attended workshop on Core Banking.

Government has also taken the following steps to make the post offices a profitable organization:

Ø       Modernize mail operations through improved transmission of mails, parcel and logistics between major cities, setting up of automatic mail processing centres for faster processing of mails and rationalization of the existing mail network.

Ø       Induction of technology in speed post network and financial services so as to increase the    efficiency of operations.

Ø       Leveraging the postal network to provide various utility services.

Ø       Utilizing technology for improving productivity in post offices.

Ø       Imparting need based training to all staff.


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