Four months on, post office banking project yet to start | punjab | Hindustan Times
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Four months on, post office banking project yet to start

punjab Updated: Nov 16, 2014 15:29 IST
HT Correspondent

Over four months have passed and the Core Banking Solution (CBS), a new online banking project for post offices, has not taken off so far.

The project that was slated to be initiated on June 23 was supposed to benefit lakhs of residents having accounts in 101 post offices of the districts. But, it failed to take off, as there were 9.3 lakh live accounts at all post office branches across the districts, and the server failed to take the load.

Senior postmaster SP Pahwa said, “There are lakhs of accounts in the post office branches, and the server was not taking that much load, which delayed the project. But, it will be started soon. Implementation of any scheme takes time. Moreover, this project has been implemented in many districts like Chandigarh, Khanna and Jalandhar among others. But some are still in queue like Ludhiana and Amritsar among others.”

There are two parts of divisions of post offices in Punjab: M division that covers areas which are not under the municipal corporation (MC) having 57 post offices and 3.7 lakh accounts, and city division that covers the areas under MC having 44 post offices with 5.6 lakh accounts.

It is pertinent to mention here that with its advent, the scheme will provide the facility of withdrawing and saving the money in post office at any place. Earlier, the savings in a particular post office had to be withdrawn from that place only, but through CBS people can enjoy the facility of withdrawing and saving the money at any place.

People will also be provided ATM cards so, that they can withdraw money easily.

Senior post officer claimed, “There are more than 1, 80,000 accounts in head post office situated near Bharat Nagar Chowk. Moreover, more than 30 accounts open and around 5-10 accounts are closed on daily basis.”

“This project is very useful for the people as a person will withdraw and save the money at any post office. This would also remove the manual work in the offices and this project would come soon in the city,” senior post officer said.

Kisan Vikas Pattar scheme

Interestingly, Kisan Vikas Pattar scheme that was closed two year ago in post office banking will be started within next two weeks. In this scheme, the person would get the money doubled in eight years and seven months.