Tuesday, March 31, 2020

Postal Department to open 1,000 ATMs by March 2016

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ATMWith the aim to bring all 25,000 departmental post offices under CBS (core banking system), the postal department has planned to open 1,000 ATMs by March 2016. CBS will enable customers to operate their accounts, and avail banking services from any post office on CBS network, regardless of where they maintain their account.

According to DoP (Department of Posts) official, it has already rolled out core CBS in 12,441 post offices along with 300 ATMs.

DoP has 25,000 departmental post offices and 1,30,000 rural post offices across the country. Regarding rural post offices, the official said all 130,000 post offices would be provided with solar powered, biometric hand-held devices by March 2017. Supply to these devices to about 20,000 rural branch post offices shall be completed by March 31 this year.

To promote financial inclusion, the DoP is also going to set up payment bank by March 2017. It will finalize consultants for the payment bank by the end of January 2016.

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