Swipe card at postal ATMs

CUTTACK: In tune with the times, the department of posts is all set to launch automated teller machines (ATMs) and core-banking solution(CBS) in Odisha region. The project is intended to increase accessibility of customers to postal banking services.

Core banking is services provided by a group of networked branches. Customers can access funds and other simple transactions at any of the branch offices.

"Initially 44 ATMs will be set up in the state, including one each at 35 head post offices, in the first phase. Work has already been started to launch core banking facility in some of head post offices in Cuttack, Balasore, Sambalpur, Jharsuguda, Sundargarh, Mayurbhanj, Angul, Bhadrak, Keonjhar, Puri and Balangir," chief postmaster general, Odisha region, Tilak De told TOI.

The ATM facility will come up once the department completes the process of core banking facility, which will upgrade postal banking services. Official sources said sites for ATMs have been earmarked by the department and CBS software will be installed in 30 head post offices and 50 sub-post offices in the first phase.

Likewise, the facility would be extended to rest post offices in the next phase. Odisha has 1,160 sub post offices, De said.

He said the project is part of new client-friendly initiative of the department. "Our main objective is to bring all post offices, sub post offices and branches under the core banking facility."

"According to RBI guidelines, our customers will be given ATM cards so that they can withdraw money and check their account balance from designated kiosks. They can use their cards in bank ATMs also. Bank customers can also use their cards in postal ATMs." De said. It would definitely make the postal services fast and add to the clientele, De added.

There are more than 92 lakh general accounts, including savings accounts, senior citizen service scheme, monthly income scheme, public provident fund and term deposit. As many as 20 lakh MGNREGA accounts also exist in the department.

Source : http://timesofindia.indiatimes.com