Post Bank and Postal ATM from India Post to be introduced soon

Posted by binu P Saturday, February 12, 2011

Postal Bank and Postal ATM
Department of Posts is going to introduce Banking service through Post Offices. All post offices will also work as  Post Banks. ATMs will also be introduced along with Postal Banks.

Department of post is going to launch post bank and prepaid card scheme very shortly all the regional heads of all circles have been directed to personally identify and expedite the manner of installation of ATM,s in Head post offices. RBI approval and License is awaited. As part of core banking process all existing accounts are now updated in computers. The circle heads are frequently stressed to complete the signature scanning of all A/c holders as early as possible. A centralized server possibly at Ghaziabad is proposed to be constituted  which will automatically extract data from all HO & SO as when the counter clerk enters a transaction. The role Of SBCO will be minimized. The preservation of records at all Hos  will be considerably reduced.

Under Prepaid card scheme which is to be launched in collaboration with banks,. all expenses are to be borne by banks. Cards will be issued to customers who have Savings account only and later expanded to other customers. With help of card one can withdraw money in POs/ Any ATM/make purchase in any merchant outlets. A minimum charge will be levied for each operation. Minim um load is Rs 1000 maximum reload to card is Rs50000. Maximum withdrawal is 10000 per day and only four times can a card be used in a single given day.

News from fnpo.org website...

Further Reading

        1. Core banking in Post Offices.

        2 ATMs to be introduced in Post Offices.

        3. Modernisation of India Post

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2 Responses to Post Bank and Postal ATM from India Post to be introduced soon

  1. I am very much interested first to learn with meticulous care about the postal core banking solutions with ATM-
    debit Card facilities for withdrawal of moneys from my savings account as deposited in the Post Office at Calcutta.[07-03-2013]

  2. I am very much Interested to experience with the Postal Core Banking Solutions with ATM-Debit Card for withdrawal from my own S/B. Account which will be opened with immediate effect on sanction of the proposed ATM facility [07-03-2013Thursday/23.30]


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