CBS spreads its wings in Vellore division

The Department of Posts is rolling out its core banking solutions (CBS) to more sub post offices in Vellore division.

It was on October 29, 2014 that the CBS was introduced in the head post office (HPO), Vellore. There are 48 sub offices in the Vellore division. Following the HPO, nine sub offices and 11 branch offices have been linked under the CBS till now, officials said.

The post office at the Collectorate was the latest to be linked on Monday. The CBS has already been implemented at the sub post offices of Kaspa, Sathuvachari extension, Gandhi Nagar, Sathuvachari, Katpadi north, Christian Medical College and Bakiyath.

A. Saravanan, Senior Superintendent of post offices, Vellore division, said pan-India, around 1,000 post offices have been covered under the CBS so far. Nearly 120 post offices across Tamil Nadu have been brought under the CBS till now.

It offers postal savings account holders an umbrella of services similar to that of banks, except loans. Postal savings account holders of the post offices linked under the CBS would be able to carry out transactions at any post office networked under the CBS anywhere in the country.

With the CBS, post offices will offer range of facilities such as ATMs, net banking and statements. “In Vellore, we are rolling out the CBS in one sub post office every week. With nine sub offices covered so far, the branch offices will automatically come under the network,” Mr. Saravanan said.

The department is planning to launch the CBS in all post offices of Vellore division by March 31. The department is aiming to implement the CBS in all post offices of the State by June.

With ATM facilities being one of the components of the CBS, construction work is under way for establishing an ATM at the Vellore HPO. The work would be completed in three months, the official said.