Post offices to enter core banking system by March 2010

Its really good initiative.. thanks  for sharing

Nice article Rakesh, really very informative. If I am not wrong then Indian post has already started doing this unofficially from past few years. This time they will officially do it. Thanks for sharing...

Post offfice as banks .good .with the extent of base all over india they have to shine.
only the employess are underpaid ,so they are painfully(for customers)strict on things like signatures that unless it is a photocopy like signature ,they will not pay anything.

Yes great initiatives, it would give customers convenient access of Bank to common people. As there are post offices are spread across the country so it would help rural people to have Banking Facilities.

Veejay,

Thanks for the referral and information.......

I agree with prakash.....

In the age of inclusive banking, this is happening not a day sooner. Nationalised banks put together have not been able to achieve the penetration necessary for the huge populations in rural and semi urban areas. Even in urban centres, Post Offices can be the friendly banking neighbour. Postal India has come of age. It is time Post Offices and Banks are made to share the same regulatory space so that banking penetration is achieved across nook and corner of the country. Indian Postal network offers a great opportunity of cross selling banking,capital market and insurance services virtually to every street of India. 

Informative Article. Thanks for the post Rakesh.
If this is effectively implemented, it will be convenient banking for India, given the huge network and presence of post offices, especially in rural areas

 Post office to enter core banking system is very interesting. The implementation of this system helps in faster customer service and substantial reduction of operation costs. This will also increase the scalability of the customers using bank services.