India Post To Install 3,000 ATMs, 135,000 Micro-ATMs
Even as its application to start a commercial bank is pending, India Post has drawn a massive plan to install as many as 3,000 ATMs and 135,000 micro-ATMs at post-offices across the country by September 2015.
“We will be starting with three ATMs to be installed in New Delhi, Chennai and Bngalore on February 5 and then ramp it up gradually,” postal department secretary, Padmini Gopinath, told the media. She said 1,000 ATMs with the India Post branding will be put in within the first year; these will be ramped up to 3,000 in the next 18 months. India Post will join the National Financial Switch which will benefit India Post account-holders to transact at the banks’ ATMs and vice versa, she added. India Post has been working withsoftware major Infosys on this project, she added.
The Department of Posts is fighting to convert itself into a full fledged bank, asserting that its reach can help achieve the goal of financial inclusion.
courtesy: Moneylife
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