Post offices in Western Region are getting ready for providing core banking solution (CBS), Post Master General V. Rajarajan told a press conference here on Tuesday.
He said India Post would introduce CBS in 113 of the 366 offices in the region in the first phase and would extend it to other offices later.
Deadline
Though he did not set a deadline for the service, he expected it to be over by the end of this year.
He also said that ATMs would be introduced later. India Post was developing the necessary software at India Post Software Development Cell in Mysore. Hardware was already present in almost all the offices.
Once introduced, Mr. Rajarajan said, customers would be able to operate their accounts anywhere, not just from offices in the Western Region. India Post was at present engaged in training its personnel and number of training centres had been increased.
He then spoke about two of India Post's latest services: iMO and MO Videsh.
The first is a web-based instant money transfer service. At present, 69 of the 366 post offices in the region offered the service. By the end of this month, all offices would extend the service.
Reliable
iMO was instant, convenient, reliable and also affordable, as the money transmitted would be disbursed the very next minute to the paying office.
There the receiver should furnish a 16-digit-code, obtained from the sender, and also his photograph.
The PMG said a minimum of Rs. 1,000 and maximum of Rs. 50,000 could be transferred.
The commission vis-à-vis the regular MO commission was cheaper when the amount sent exceeded Rs. 3,000.
MO Videsh was very similar except that it was meant for transferring money to those living abroad. The minimum was 100 US $ and maximum 5,000 US $.
Medical treatment
A few exceptions on the higher limit were available if the money was spent for education, medical treatment and family maintenance.
On the New Pension Scheme, he said nearly 500 accounts had been opened and India Post personnel were engaged in increasing the number of pension accounts.
Mr. Rajarajan said India Post would set up a special counter at the World Classical Tamil Conference venue and on June 27 come out with a new stamp. A special cancellation was also being planned.
