India Post is planning to set up ATMs and issue Debit Cards
post is planning to issue debit cards to their customers and install ATM Centre
in the post office to come in the race of banking activities. Indian post is
planning to set up at least 1000 ATM center initially for this purpose by set
up a subsidiary PBI (Post bank of India). India post has the large network in
India in rural as well as in urban areas which has around 1.5 lakhs centers.
Giving the ATM facility will increase the transactions as well as increase the
network of India post.
post is also planning to introduce core banking solutions for its customers in
which one can deposit or withdraw the money in any branch of post office.
Generally we can see the long queue in the post office of the people who wants
to deposit or withdraw the small amount. ATM will surely reduce the burden for
to IT professionals, setting the core banking solutions in 1000 branches will
cost around 2000 crore for India post including software, postal services and
post is currently giving some of the banking services like fixed deposit,
recurring deposit, loans, pension payments and money transfer services. India
post is also planning to tie up with the banks to use their ATMs free of charge
to their customers.