India Posts to start rolling out ATMs from February

India Posts to start rolling out ATMs from February

In anticipation of getting a banking licence from the Reserve Bank of India, the Department of Posts will roll out its own ATMs, with the first of them set to be functional on February 5 across three cities.

The currency dispensers are being launched for the Department’s more than 26 crore savings bank accountholders.

“The first of the ATMs would be rolled out simultaneously in New Delhi, Chennai and Bangalore,” Kapil Sibal, Minister for Communications and IT, said, after inaugurating a data centre for the postal department.

Following which, the postal department is planning to rollout 3,000 ATMs. About 1,000 machines would be introduced in the first year. The remaining 2,000 would be rolled out within six months to one year after the initial phase of rollout.

The department would also rollout 1.35 lakh micro ATMs, thereby empowering its rural post offices across the country, secretary, Department of Posts, Padmini Gopinath said.