Chennai, March 2 2014: Soon after Indian Finance Minister P Chidambaram inaugurated India's first post office savings bank ATM in Chennai at the T Nagar Head Post Office 2 days ago, IT Minister Kapil Sibal did likewise yesterday at the Indraprastha Head Post Office in Delhi today.
Government is planning to have 1,000 such ATMs by 2014 and another 1,800 by 2015.
At present, 64 Post Offices have been migrated into the core banking services in Delhi, Uttar Pradesh, Tamil Nadu, Karnataka, Maharashtra, Assam and Andhra Pradesh. Over 26,840 post offices will adopt CBS by 2016. All account holders will be provided with an ATM card, says Secretary of Department of Posts Padmini Gopinath.
Infosys has provided the Core Banking Solution, Finacle, for the IT Modernisation Project of India Post.