IT boom in Karnataka Postal Circle

Bengaluru, July 17, 2015  : There is a lot of thrust on the IT modernisation project in the Karnataka Postal Circle of India Post. 

With Core Banking Solutions (CBS), Core Insurance Solutions (CIS), and the Core System Integrator, the department is hoping to create strong IT infrastructure and applications for all its services. 

B.V. Sudhakar, Chief Postmaster General, Karnataka Postal Circle, said that in the State, 58 head post offices and 320 sub post offices had been covered under CBS. By the end of this fiscal, 1,714 department post offices will be covered as well. The department is also hoping to open 59 ATMs, which will help 80 lakh savings account holders. Already, 17 ATMs have been opened in the State. 

About CIS, he said the department is in the process of integrating and networking 810 central processing centres, for which special software has been developed. “Once integrated, citizens can access their insurance policies, apply for policies and make payments online. So far, the software has been uploaded in 1,712 post offices in the State,” he said, adding that this would benefit seven lakh postal life insurance and 16 lakh rural postal life insurance policy holders. 

Revenue increase

The department, Mr. Sudhakar said, was focussing on e-commerce platforms as well. Over the past two years, the average revenue growth has been Rs. 100 crore a year. The business turnover for postal life insurance has also registered an average growth of Rs. 50 crore a year, while it is Rs. 20 crore a year for the rural postal life insurance. “This is the impact of technology. In about two years, we hope to remove the current deficit of Rs. 262 crore,” he said.