NEWS & ADVICE : CREDIT CARDS
Thousands of ATMs to be launched by Indian Post by September
By Ankit Sharma
Jan 27, 2014
Print    Email    RSS   

Though Indian Post has not yet received the confirmation to work as a commercial bank, but it has unveiled its plan to launch nearly 3000 ATMs 1.35 lakhs micro ATMs by September this year. The Indian post is aiming to install ATM at all the post offices across the country.

Postal department secretary Padmini Gopinath reported that in the beginning it will establish 3 ATM in Delhi, Bangalore and Chennai by February 5 and gradually will launch more. There are nearly 26 crore account holders who save with Indian posts. In the beginning these crore account holders can use these ATMs.

The micro ATMs will be like handheld machines that will be controlled by Post office and the ATMs will be same as that of the banks. At present there are 1.55 lakh post offices providing savings accounts facility to the people, and maximum are in rural areas. The Indian post offers 4% interest rate on deposits. The Indian post is trying its level best to start as commercial bank.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Cash-Back offer at Corporation Bank this...
Some quick facts about CIBIL report
Lost Your Credit Card? Here’s What You...
Students Credit Cards in India
Carnival of Indian Personal Finance Blogs #6


+91-96-947-71-697- मंगलिक दोष...
what is my credit card statement
i forgot my ATM pin number i could i get it again
how to improve my CIBIL score???

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive