India Post Office Starts Core Banking Services

HYDERABAD: People holding accounts with a post office can now operate their accounts from any other post office and also online.  The department of posts, AP Circle, launched Core Banking Services (CBS) on Thursday, offering online banking, mobile banking and SMS alerts. ATMs will be opened in another six months.

The services can be availed at 82 of the 95 Head Post Offices located in the sibling states of Andhra Pradesh and Telangana, and the remaining 13 also will be shifted to the CBS platform by the first week of February.

Inaugurating the Core Banking Services, BV Sudhakar, chief postmaster-general, AP Circle, said that they would be enabling the CBS through 2,438 Sub Post Offices by June this year. ATMs will be opened in another six months.

He said post offices would also offer cashless service. People can use debit cards of any bank to draw cash up to Rs 1,000 at 63 post offices. Areas where there are no banks or ATMs will be given priority to launch the service.

via Postal Department Starts Core Banking Services – The New Indian Express.