All post offices
across India will offer online banking services to customers by May next year,
according to Killi Kruparani, Minister of State for Communication and
Information Technology of India.
India Post offers
a wide range of financial services such as savings accounts, insurance and
provident funds. The network of 155,000 post offices across the country
provides critical services in rural areas that lack
banking infrastructure.
“Every post office
in our country will provide online services to the citizens in both rural and
urban areas by May 2014”, announced Kruparani. “The postal network will develop
a strong core banking solution through which money transfers will be done
within a day instead of the current 4-6 days”.
Kruparani stated
that the central government has earmarked INR 47
billion (US$884.8 million) for the
computerisation and modernisation of post offices in India. The modernisation
of India Post is a major project under the National e-Governance Plan of
India
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