India Post Going Strong on Banking, Connectivity

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Taking a cue from the success of banking and finance segment of the nation and with an aim to provide financial inclusion for the common masses

India’s Postal department is all set to make its mark in the banking segment of the country. While major banks of the country are striving to achieve this dream, India Post has been playing a silent yet significant role in this direction. Quire recently, India Post has announced that it would be rolling out 150 branches of its core banking in the coming two months.

India Post, which has one of the largest networks, in terms of communication and which also boasts of over 20 crore individual savings bank accounts, had shown a lot of interests in becoming a full fledged banking solution provider not only in the big metros of the country but especially for the not so connected rural parts of the nation.

New Technological Paradigm

This initiative would translate itself into a new paradigm shift in the banking segment for the country as with India Post foraying into the banking segment, there will be a lot of private banks that would surely want to partner with India Post because of its rural reach and customer confidence. 

This roll out of core banking solution would be done in a phased manner and in the first phase nearly 1,000 Departmental Post offices would have core banking. Once fully operational, India Post equipped with a nationwide core banking solution would be in an ideal position to reach small villages across the nation.
The government of India is also looking at providing internet connectivity to all post offices in the country by the year 2012-13 as part of the India Post Technology Project.
As part of this technology adoption project, all the Departmental Post Offices (DPO) and Branch Post Offices (BPO) in the country would be provided with network connectivity by 2012-13 under the India Post Technology Project 2012.
The India Post Technology Project 2012 aims to upgrade the technological infrastructure across post offices in India and providing Internet connectivity is a core part of the overall up gradation of India Post.