The department of posts is implementing a core banking solution across India covering all the post offices and some 64 post offices in Delhi, Uttar Pradesh, Tamil Nadu, Karnataka, Maharashtra, Assam and Andhra Pradesh have already been migrated to the system. The department feels once CBS is fully implemented it will be able to provide efficient service to its customers who avail of the deposits and other savings schemes of the department. The department has opted for Finacle system of Infosys. The department intends to be banking institution offering services like anywhere anytime banking, internet banking, RTGS/NEFT and other such services which are normally offered by banks. The department is also planning to set up its own ATMs in the country and the first such ATMs have been launched at Indraprastha Head Post Office and Delhi GPO in New Delhi. The department now plans to replicate this in 1000 locations across the country in the next few months, which will subsequently be scaled uo to 2800 ATMs by 2015. The department is also planning to induct technology in the Postal Life Insurance and has tied up with McCarnish. Postal Life Insurance is open for employees of all central and state government departments, nationalized banks, public sector undertakings, financial institutions and local bodies. The Postal Life Insurance Fund has a corpus of close to Rs 40,000 crore. The McCamish solution will enable the customers to pay their premium at any post office counter across the country, make online premium payment, check their insurance accounts online, take maturity and loan payment from any post office and utilize the services of a 24×7
