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Tuesday, June 16, 2015

Indian Postal Department Gives Debit Cards to 5 Lakh Customers

India Posts – the Indian Postal Department is the only financial service providing organization in the country which has maximum number of service branches. India Posts have started to give out about 5,00,000 debit cards to its customers.

Recently, Postal Department has started to install ATM services in all its major post office branches throughout the country. Now, as a next step of advancement India Posts have started to give out debit cards.

Debit Cards to All Account Holders Soon

Debit Cards and Banking system
The postal department officials have said that in the next 2-months’ time, it will complete issuing 5 lakh debit cards to its customers having savings account in Postal Department. Though the number of account holder in the postal department having savings account is high, it is only a pilot project to issue to 5,00,000 debit cards. The card issuing process has been going for the past few months. After this pilot project is completed, feedbacks on positives and negatives will be taken into account for a rectification. After an analysis post this pilot project, postal department will go for issuing debit cards to all its account holders.

For now, the debit card issuance is going on in 2600 branches of Indian Postal Department where the number of customers are large in numbers. Apart from the debit card system, other usual financial services are provided as usual.

However, the only dissatisfaction of this service is the limitations of using the debit cards. As of now, these debit cards can used only among 115 ATM centres deployed by the postal department. Postal department account holders will not be able to use their ATM cards in other ATMs. Authorities have told that this limitation will be lifted soon enabling to use the debit cards in other ATMs too.

It has been planned that by March 2016, about 10,000 ATMs will be installed across the country. In addition to this core banking solution will be implemented in 2500 centers of Indian Postal Department.

Recently Postal Department has signed in a project worth 30 crore rupees. This will include to enhance the financial advancement and to start new transaction facilities. Also, this department will procure about 1.5 crore rupees worth debit cards.

Apart from banking solutions, India Posts have also ventured into e-commerce. It has been providing logistics to e-commerce companies like,,,,,,, etc. 

Indian Postal Department debit card system is seen as a beginning in the advancement of its nationwide service.

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