Post Offices to witness core banking operations by 2017: Ravi Shankar Prasad

Union Minister for Communications and Information Technology Ravi Shankar Prasad said a slew of measures taken by the Centre have resulted in the flow of FDIs into the country with telecom sector attracting around 27,000 crore rupees in just two years. He was addressing the media at a function in Kakinada of East Godavari district of Andhra Pradesh. The function was part of ‘Vikas Parv,’ to mark the Prime Minister Narendra Modi’s two-year government at the Centre. Mr. Prasad said, Post Offices in the country are going to witness core banking operations by 2017 with 1.33 lakh postmen carrying handheld ATMs. 

The Union Minister said, BSNL has registered a gain of 672 crore rupees during the previous two-year period and is expected to register 2000 crore rupees by the turn of next year while the postal department by adopting e-commerce initiatives has enhanced its income by 80 per cent.



He also explained the developmental programmes identified for launching in the next three years. Mr. Prasad listed out various developmental and welfare programmes being implemented by the NDA government. 

Under Mudra scheme, the Minister emphasized that about 3 crore beneficiaries have received loans to the tune of One lakh 50 thousand crore rupees during the 18-month period that has gone by, among which 79 per cent were women beneficiaries.

The Minister announced that a new electronic manufacturing cluster would come up in Kakinada besides the already sanctioned 5 manufacturing clusters. He said, the hardware park sanctioned would start functioning at the earliest. Under 14th Finance Commission grants an allocation of 2,60,819 crore rupees have been made for Andhra Pradesh. Union Minister of State for Agriculture Sudarshan Bhagat was also present on the occasion.