Core banking in post offices soon

Post offices in the country would have a core banking system soon, enabling customers to operate their bank accounts from anywhere and even providing them with ATM facilities.

"Currently data entry work is in progress. The system should be in place in two years time," Chief Post Master General (North East circle) A N D Kachari told PTI.

Once the system is in place, the post offices will be like any other nationalised banks. ATM facilities will also be provided to the customers, he said adding that besides its own ATM centres, the department would tie up with other banks for the use of ATM cards.

Kachari said efforts were on to facilitate submission of passport application forms in post offices which will enable the people in the North East to acquire passports from the post offices, instead of going to Guwahati, he said.

The Railway department has also agreed to allow post offices to book tickets.

Meanwhile in another initiative, the postal department has tied-up with the State Bank of India to disburse loans in the rural areas. This will help customers to acquire loans in places where the SBI does have any branch, Kachari said.