Keeping pace with the advanced banking technologies, the India Post on Wednesday launched “Go Live”, its Core Banking Solutions (CBS) facility. The move enables saving account holders to transfer money online and perform other financial transactions online across the country.
“Besides providing value-added services to customers, this facility would generate additional revenue for the department. Already, 746 offices have been identified for the CBS in A.P circle (comprising both Telangana and Andhra Pradesh). The Vijayawada Head Office, with 65,000 savings accounts and a total balance of Rs.183 crore, is the first post office in Krishna district to have this facility,” claimed B.V.Sudhakar, Chief Postmaster General, Andhra Pradesh Circle.
He further said that the objective was to increase operational efficiency through technology and attract as many as bank deposits . In A.P. circle, there are 4.72 crore account holders with total deposits valued at Rs.28,000 crore and this should give an idea about the quantum and efficiency of the service being extended, he said.
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“Many are of the view that post offices have lost significance in the modern era but this is incorrect. For the 2013-14 financial year, we have exceeded the target of Rs.971 crore, by achieving Rs.1001 crore,” said Mr. Sudhakar.
As part of the extension plan, 11 new post offices would be set up in the united Andhra Pradesh (five in Telangana and six in Seemandhra regions).
“If everything goes well, they should be operational within six months,” he added.
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