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BoI launches Cash-at-PoS facility

BoI launches Cash-at-PoS facility
Highlights

Telangana zone of Bank of India on Tuesday launched Cash-at-PoS facility as part of the Government of India’s initiative in digitisation.   

Hyderabad: Telangana zone of Bank of India on Tuesday launched Cash-at-PoS facility as part of the Government of India’s initiative in digitisation.

Bank of India, a nationalised bank, is spread across 16 districts of Telangana with total 66 branches. The Cash at PoS facility launched by the bank will enable a merchant establishment to transform into a mini ATM.

Under this facility, any debit card holder will be able to use their debit card to withdraw money by using Bank of India’s PoS device. All transactions are 100 per cent secure with multiple levels of authentication and approval from RBI.

C G Chaitanya, Executive Director, BoI, said: “The bank is primarily focusing on quality credit growth, increase in CASA share and reduction of NPA.”

S B Rai, Zonal Manager, BoI, added: “The zone is registering continuous growth in retail lending and is concentrating on reduction of NPA of the zone.” BoI general managers R K Mitra and R C Thakur were also present during the launch.

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