Sify powers India Post Payments Bank as network integrator

Sify Technologies Saturday said it has worked as the network integrator and network service provider for the Department of Posts, helping the latter in the roll out of payments bank services at 650 branches and 3,250 access points.

The IPPB services were launched Saturday by Prime Minister Narendra Modi at a ceremony held in the national capital.

"Sify is the network integrator and network service provider that enabled this ambitious pan-India project. As part of the Rs 1,877.20 crore DoP modernisation/IT automation drive, Sify was mandated to build and connect endpoints, spanning both sorting and administration offices," it said in a statement.

The total scale of the project in Phase I involved connecting over 28,000 urban and semi-urban post offices, it added.

"Resting on Sify's...network backbone, IPPB will go now live with 650 branches, 3,250 access points co-located at post offices... IPPB is starting operations with 17 crore accounts and gradually 1.55 lakh access points in the country will be enabled to offer banking services," it said.

The project was not just about bringing banking to millions of under-banked Indians but also about giving them the same opportunity as the rest -- a crucial enabler of the Prime Minister's vision for Digital India, Sify Technologies CEO Kamal Nath said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)