CORE BANKING IN POST OFFICES BY NEXT YAER

In an exercise to boost its profitability, the Department of Posts (DoP) plans to introduce core banking solution, besides setting up India Post ATMs and debit cards for its customers. We have set target of bringing in core banking solution by 2012. It will ensure smooth online transactions. We are giving some epayment services, but they are fragmented, a DoP offical said. He said the work for setting up 1, 000 India Post ATMs was in advanced stage and DoP had held parleys with vendors on this front. We will also issue debit cards to our existing savings account-holders, he source