Postal Core banking in Orissa

Postal Core Banking in Orissa

Your neighbor hood post office will now also double up as your bank. India Post would launch core banking facility in Orissa by the end of this month.
The core banking will start at five places - Bhubaneswar, Cuttack, Rourkela, Sambalpur and Berhampur. Assessing its success, it would be extended to other parts of the State, Chief Post Master General Yeshodhara Menon said here on Friday. India Post, at present, is celebrating the National Postal Week.
As things stand today, it has already tied up with State Bank of India (SBI) for collection of loan applications against various types of securities. So far, applications for Rs 16.2 lakh have been received.
Modernising itself, the DoP has already computerised 479 of its branches and aims at completing its total automation work by 2011.
Menon informed that the Orissa Circle of has taken up a pilot project to pay the wages under NREGS on smart card basis. Termed the NREGS ICT Pilot Project this is currently under implementation in 25 branch post offices of the State where at least 5,000 smart cards have already been issued. Once successful, the project will be extended soon.
Currently, a large chunk of India Post’s saving bank accounts are NREGS wage earners. It has opened 8,68,422 accounts where Rs 57.38 crore was deposited out of which s 45.74 crore has been disbursed.
The CPMG Orissa said India Post has ventured into insurance sector and plans a huge coverage in near future.
Among others, Post Master General SK Kamila and Director (Postal Services) L Pradhan were present.