City gets first Postal ATM
The postal department’s saving bank customers in the city would no longer have to stand in long queues. B V Sudhakar, chief postmaster general, AP...
The postal department’s saving bank customers in the city would no longer have to stand in long queues. B V Sudhakar, chief postmaster general, AP Circle, inaugurated the first India Post ATM at the General Post Office (GPO) in Telangana State on Tuesday. Customers can withdraw Rs 10,000 in a single transaction and Rs 25,000 in a single day from the ATM. Sudhakar had inaugurated an ATM at the head post office at Vijayawada on Friday.
Speaking immediately after inaugurating the ATM the chief postmaster general said that India Post was establishing a total of 95 ATMs across Telangana and AP soon. In a week’s time another ATM would be opened at Secunderabad GPO. About 200 ATM cards would be distributed to saving bank account holders today. These customers had applied for the ATM cards. There are 15.2 lakh saving bank account holders in the twin-cities.
About 2,438 sub-post offices in both the Telugu speaking states are being upgraded to Core Banking Solutions (CBS) platform during 2015-16. The CBS benefits includes anytime and anywhere banking and brings down the cost of transaction and thereby improves operational efficiency. To make the postal department fully automated, the CBS is being taken up in a major way, informed the Chief Postmaster General. “In the last two years the postal department AP Circle was able to reduce the deficit by Rs 250 crore.”