The country’s
first Post Office Savings Bank ATM was inaugurated in Chennai on Thursday by
Finance Minister P. Chidambaram as part of the government’s Rs. 4,909 crore IT
modernisation scheme for the Department of Posts specified in the interim
budget for 2014-15.
After launching
the ATM service at Thiyagaraya Nagar Head Post Office (HPO), Mr.Chidambaram
said, “The IT modernisation scheme is aimed at making Department of Posts a
technology-oriented one and today’s initiative is a step in that regard.” The
IT modernisation scheme would cover 1.55 lakh post offices and would be
implemented by next year, he added.
Speaking about
the newly launched ATM service at the HPO, Mr.Chidambaram said that while it
will initially operate in a closed environment for about six months, and later
change to ‘inter-operability,’ on the lines of bank ATMs, allowing customers to
withdraw money from any ATM. About Department of Posts, Mr.Chidambaram said
that while questions were being raised about its future, especially in the wake
of dip in use of letters and postcards, it was adopting new strategies and was
therefore on the path to growth. Still a large number of people believe that
the Department of Posts is the best in courier and parcel delivery areas, he
added. An official release said the T Nagar HPO ATM is the first in the country
and “four more ATMs are ready for operations” in Delhi and Mumbai.
“It has been
proposed to install 1,000 ATMs across the country in 2014. Another 1,800 ATMs
will be added in 2015,” it said. The release added that Rs. 700 crore has been
earmarked for implementing Core Banking Solution (CBS) for Post office Savings
Bank. As on date, 51 HPOs and 11 sub-post offices have “migrated” covering 64
lakh accounts.
By March 31,
2014, a total of 700 more post offices will be covered and all 26,840 post
offices will be functional under CBS in another two years, it said.
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