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Friday, November 18, 2016

Postal ATMs of little use as cash crunch continues


Delay in replenishment of cash is a problem

In stark contrast to the heavy rush of customers seeking to exchange their old currency notes at Vijayawada Head Post Office (HPO) at Kaleswara Rao Market and Buckinghampet Post Office, the number of people turning up to withdraw money at the Post Office Savings Bank (POSB) ATMs at both those locations is negligible.

The ATMs are open, but are “temporarily unable to dispense cash” due to the prevailing liquidity crunch. And, like the bank ATMs, their utility is going to be limited only to the extent of disbursement of Rs.100 and Rs.50 notes.

These are the only two on-site POSB ATMs in the city, and delay in replenishment of cash is a problem there too. Besides, these ATMs have also to be recalibrated like the bank ATMs.

Vijayawada HPO Senior Post Master M. Hari Prasad Sarma told The Hindu that the ATM was functioning from Wednesday after Rs.100 and Rs.50 notes were deposited in the machine.

A spoiled note that got stuck in the ATM rendered it non-operational on Thursday morning, but it worked as usual later. However, it could not dispense Rs.2,000 notes, which the post office did not have.

On an average, 60 withdrawals are made from the ATM during a normal working day, but the number came down to single digit due to the present crisis.

As far as exchange of old notes at the HPO was concerned, Mr. Sarma said not less than 700 customers were being catered to every day with the total amount being over Rs.22 lakh. The ATM at Buckinghampet Post Office has been out of order for the last few days after the cash in it got exhausted. It remained non-operational on Thursday. Whether it is functional or not, a few customers are even going to try their luck as big notes are not in full supply yet.
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  1. It a Matter of Regret that Postal Administration has not build any New ATMs.

    As per the view of this customer All Sub Post Offices having Departmental Building like Hindol SO - 759122, Sub Divisional Heads Like Talcher, Kamakhya Nagar, Athamallik,

    Post of Offices with Building Given by Companies and Institutions Like NALCO, JINDAL, NTPC, IGIT must have ATMs

    Postal Authorities should talk to NALCO, NTPC, JINDAL Authorities for Provision of ATM Building and Install ATM at the earliest.

    It will make more people use POSB CBS Services and Business Market Share of DOP will Increase

  2. Postal ATMs are not functional / operational / active / open 24*7, mostly Sundays. It discourages people to use Postal ATM, i.e. to Keep faith with them that Postal ATM will not cheat them by failure to dispense cash in need. Postal authorities are not taking timely appropriate measures like supply of uninterrupted power supply, network / server connectivity, repair of faults etc

    Nothing special has been done by postal department to make people go for ATM for withdrawal
    like fixing a limit, for customers of post offices having ATMs installed near them ( for eg HOs), for withdrawal below which, you should visit the ATM first.