Post offices to house ATMs for pensioners

Senior citizens use to stand in long queue for withdrawing money from post offices are likely to get relief soon.

Indian Posts is actively considering to launch ATM facilities in selected post offices as part of its strategy to undertake full scale banking operations. Indian Post has already started corporate distribution activities through tie up with Oriental Insurance, UTI MF, IDBI bond etc..

Now the Indian Post, one of the biggest small savings network in the world with 1.5 lakh branches, is chalking out strategy to become more customer friendly and techno savvy.

Incidentally, India Post earns around 41 per cent of the total revenue as remuneration for small savings work from ministry of finance. Indian Post had mobilised Rs 1.34 lakh crore from its various small savings schemes in 2003-04.

Chief postmaster general (West Bengal), P K Chatterji said the policy decision has already been made in highest level as far as ATM is concern. However, he pointed out that it would take some time to introduce ATM network as the postal department is not yet fully computerised.

"We are considering to launch ATMs in selected big post offices. Like here it could be GPO, Burrabajar, Tollygaunge, Kashipur, Beliaghata and Belghoria. Postal department is likely to introduce ATM of its own. It would be our own property," he said.

According to CPMG, as a part of its technical drive to scale up banking activity, it has introduced electronic clearing system (ECS) in 14 post offices in the West Bengal circle. It is planning to computerised all the head post offices across the country in another one year.

"Our investors in selected areas could transfer monthly interest of MIS and other schemes to their savings account in any bank. Already 18,000 people have already opted for the scheme. Now we should take up more and more banking activities," added Chatterji.

The CPMG informed that beside head post offices, it would computerised another 152 post offices in West Bengal.