India Post has been playing a significant role in financial inclusion plans of the government. In yet another step ahead towards financial inclusion, the postal department of India has announced that it would be bringing out 150 core banking branches all over the country in the upcoming 2 months.
The India post has one of the biggest networks in the country with presence in even far flung areas. Also it has around 20 crore individual savings accounts to its kitty.
The Post Master General (Karnataka Circle) Vasumitra said, "The operations would be carried out in a phase by phase manner and in the first phase nearly 1,000 Departmental Post offices would have core banking."
"Core Banking Solutions (CBS)ad ATM facilities would soon follow", he said.