No. of views : (2668)
Chennai GPO Becomes the 1000th to Implement Core Banking Solution on December 1
Posted on: 02/Dec/2014 2:15:29 PM
The General Post Office here implemented Core Banking Solution (CBS) on December 1, enabling its savings bank customers carry out their transactions online and withdraw cash through ATMs.
The project is being implemented through IT major Infosys` CBS software Finacle being used by a large number of commercial banks.
Keeping pace with the technological changes in the banking field and to meet the expectations of the customers, India Post has undertaken a project for switching over to the Core Banking Solution (CBS) platform with a total project outlay of Rs. 800 crore.
CBS would enable customers to do banking operations through computers, mobile phones and withdraw cash through ATMs and making money transfer between accounts easier.
The Greams Road Post Office here was the first CBS office in the country to start core banking from December 16 last year and Chennai GPO would be the 1000th to implement it.
India Post has the largest Postal Savings Bank network in the world, with more than 31 crore live accounts and deposits exceeding Rs. 6 lakh crore.
India Post also released a Special Cover with Cancellation to mark the occasion at the Chennai GPO on December 1.
Post your requirement - We will connect with the right vendor or service provider
