The
Department of Posts will start a pilot for core banking services in the national
capital on January 27 and expects to formally launch it by March-end.
"On Monday, India Post will start the pilot of core banking services in Delhi," an official source told PTI.
"On Monday, India Post will start the pilot of core banking services in Delhi," an official source told PTI.
The Department of Posts,
which is under the Ministry of Communications & Information Technology, has
started such pilot projects in Assam, Uttar Pradesh, Rajasthan, Maharashtra,
Karnataka and Tamil Nadu. It plans to set up 1,000 ATMs to transform its
financial services.
Delhi will initially
have 20 ATMs installed at post offices from where customers of other banks will
be able to transact. By March, 90 of the 350 post offices in Delhi are expected
to be connected with core banking services.
India Post is among the applicants for new bank licences that will be issued by the Reserve Bank of India.
India Post is among the applicants for new bank licences that will be issued by the Reserve Bank of India.
The
department has been trying to get approval from the Public Investment Board
under the Finance Ministry for a Rs 623 crore fund that India Post needs for
the banking licence.
Minister for Communications and IT Kapil Sibal on Friday said his ministry has been trying hard to persuade the Finance Ministry to get the proposal cleared.
"We are yet to go some way to convert the postal department in into a post bank. We have been fighting this battle and we are not going to give it up till we reach a logical conclusion," Sibal said.
The department plans to ramp up the number of ATMs at the pan-India level to 3,000 by September 2015.
Minister for Communications and IT Kapil Sibal on Friday said his ministry has been trying hard to persuade the Finance Ministry to get the proposal cleared.
"We are yet to go some way to convert the postal department in into a post bank. We have been fighting this battle and we are not going to give it up till we reach a logical conclusion," Sibal said.
The department plans to ramp up the number of ATMs at the pan-India level to 3,000 by September 2015.
Source: Economic Times
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