The country’s first Post Office Savings Bank ATM was inaugurated in Chennai on Thursday by Finance Minister P. Chidambaram as part of the government’s Rs. 4,909 crore IT modernisation scheme for the Department of Posts specified in the interim budget for 2014-15.
Speaking about the newly launched ATM service at the HPO, Mr.Chidambaram said that while it will initially operate in a closed environment for about six months, and later change to ‘inter-operability,’ on the lines of bank ATMs, allowing customers to withdraw money from any ATM. About Department of Posts, Mr.Chidambaram said that while questions were being raised about its future, especially in the wake of dip in use of letters and postcards, it was adopting new strategies and was therefore on the path to growth. Still a large number of people believe that the Department of Posts is the best in courier and parcel delivery areas, he added. An official release said the T Nagar HPO ATM is the first in the country and “four more ATMs are ready for operations” in Delhi and Mumbai.
By March 31, 2014, a total of 700 more post offices will be covered and all 26,840 post offices will be functional under CBS in another two years, it said.
Speaking about the newly launched ATM service at the HPO, Mr.Chidambaram said that while it will initially operate in a closed environment for about six months, and later change to ‘inter-operability,’ on the lines of bank ATMs, allowing customers to withdraw money from any ATM. About Department of Posts, Mr.Chidambaram said that while questions were being raised about its future, especially in the wake of dip in use of letters and postcards, it was adopting new strategies and was therefore on the path to growth. Still a large number of people believe that the Department of Posts is the best in courier and parcel delivery areas, he added. An official release said the T Nagar HPO ATM is the first in the country and “four more ATMs are ready for operations” in Delhi and Mumbai.
By March 31, 2014, a total of 700 more post offices will be covered and all 26,840 post offices will be functional under CBS in another two years, it said.
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