India Post to install 3000 ATMs,1.35 lakh micro-ATMs by September 15


The postal department, which has 1.55 lakh post offices over 90 per cent of which are in villages, offers the savings account to people across the country and pays an interest of 4 per cent per annum for such deposits. MUMBAI: Even as its application to start a commercial bank is pending, India Post has drawn a massive plan to install as many as 3,000 ATMs and 1.35 lakh micro-ATMs at the ubiquitous post offices across the country for savings account holders by September 2015, a top official has said.

“We will be starting with three ATMs to be installed in New Delhi, Chennai and Bangalore on February 5 and then ramp it up gradually,” postal department secretary Padmini Gopinath told a select group of reporters here over the weekend.

She said 1,000 ATMs with the India Post branding will be put in within the first year, which will be ramped up massively to 3,000 in the next 18 months. Read more

Source: http://economictimes.indiatimes.com

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Categorised in: Banking and Investment, Sector News

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