Postal Department to launch 1,000 ATMs by this March

The Postal Department is set to launch 1,000 ATMs and bring all 25,000 departmental post offices under core banking system by this March.

This core banking system (CBS) has already been rolled out in 12,441 post offices and 300 ATMs.

CBS will allow customers to use their accounts, and avail banking services from any post office on the network, regardless of where they have their account.

In rural post offices, all 130,000 offices will have 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 this March 31st.

The DoP will also set up payment bank by March 2017.

Image credit: Indiatimes