Infosys bags Rs 700 crore deal from India Post

Infosys was selected by India's Department of Post for implementing core banking and insurance solutions in 1,50,000 post offices across the country, as well as installing ATMs. This project estimated at Rs 700 crore, aims to transform India Post into a technology-enabled autonomous entity.

Under this, Infosys will implement and manage its Finacle Core Banking and McCamish Insurance products. It will install around 1,000 ATMs for India Post along with an electronic content management system to manage millions of documents generated as part of India Post's financial operations.

It will also participate in designing, building, supplying, installing and commissioning hardware and software, data migration and deployment of the platforms and solutions across all identified post offices.

Infosys would also train more than 35,000 India Post employees across the country on the usage and deployment of the new platform and solutions.

AS Prasad, deputy director general, Financial Services, India Post said, "This transformational programme is expected to enhance India Post's services, bringing us on par with the best in the banking industry; and will help us expand the reach and effectiveness of our operations through technology enablement of India Post employees."