In the corridors of power, hectic parleys’ are going to ensure that the Savings Accounts of Indian Post Office are part of the DBT-AEPS platform.
The full roll out of DBT schemes in 51 Districts will be rolled out by 01/10/2013. With the grand success of DBTL, now the efforts have been doubled.
One of the main objectives of Project Arrow launched by Indian Post in 2008 is to adopt the CBS for its saving accounts. Infosys’s Finance is the chosen software for the CBS project.
Project Arrow’s Blue Book lays down in detail the detailed planning for change in Indian Post psyche.
As per data shared with Parliament, there were over 26 crore operational small savings accounts in post offices as on March 31, 2012, having deposits worth Rs.1.9 lakh crore
“Government has initiated an ambitious IT driven project to modernize the postal network at a cost of Rs. 4,909 crore. Post offices will become part of the core banking solution and offer real time banking services. I propose to provide Rs. 32 crore for the project in 2013-14,” said the FM in his recent budget speech
Whether Indian Post will get a full fledged banking license is not yet sure. The Department of Posts will move a Cabinet note in order to apply for a banking licence by the stipulated deadline of July 1, 2013.
The UPA government intends to put the world’s biggest job guarantee programme – MGNREGA – on its “game-changer” money transfer platform – the Direct Benefit Transfer (DBT) from this October.
This is possible only if the government agencies are able to provide unique identification or Aadhaar numbers to entire population in 51 districts, where the government intends to put MGNREGA under DBT mode, and the banks and posts offices come on Aadhaar payment bridge.
The Prime Minister’s Office, which is directly monitoring the DBT, has asked Nandan Nilekani led unique identification authority of India (UIDAI) to speed up Aadhaar enrollment in these 51 districts and ensure that the entire population is covered by July.
At the same time, directions have also been issued to the postal department for entire computerisation of the post offices and connect them with a secured internet line. Multiple teams are working to enable the Indian postal department to implement its new Aadhaar enabled information technology solutions to help its integration with the DBT.
Six post offices of Nagpur region are among the 124 offices in the country where India Post will be first implementing core banking solutions (CBS).
In the pilot phase, eight postal circles have been selected. They include Andhra Pradesh, Assam, Delhi, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Uttar Pradesh.
There are also plans to introduce ATMs, about 1000 of them, in all HOs