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India Post To Bring ATM Cards and Core Banking Services to Savings Account Holders.

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India Post will now bring ATM cum Debit Cards to its saving account holders, and allow them to have bank statements from ATM’s, just like any other account holder in a private or national bank does. This has been termed as a huge step towards bringing India Post closer to transforming into a full-fledged banking service.

The Government of India issued a gazette notification, which in effect amends the Post Office Savings Bank General Rules, 1981 and allows some specific Post offices which are part of the CBS (Core Banking Solution) network to issue ATM cards for their customers.



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The ATM cards can only be used in selected post offices which are electronically connected via CBS. As per the notification, “In case of an account standing at any post office with a core banking solution platform in place, the Post Office Savings Bank shall issue ATM cum debit card to the account holder on payment of such fee as may be prescribed by the Central Government.”

Where Can India Post ATMs Be Used.

Account holders with ATM facility can use any CBS connected Postal ATM country wide to withdraw or deposit money into their account. Hence, a Post Office Saving Account holder from Delhi can use the Postal ATM with CBS facility in Mumbai or Chennai or Kolkata to withdraw money or deposit.




India Post looking forward to Include features like call centers for customer support, mobile and Internet Banking along with free home delivery service in rural areas to their customers.

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India Post towards Full Fledged Banking Platform.

Banking experts are already claimed that once Government gives the final approval for full-fledged Post Office Banking Systems, then in terms of reach and expansion of service India Post will become Asia’s biggest banking platform. In terms of placement, India Posts is already better positioned than Japan Post Bank, which is world’s largest postal banking system with $1.7 trillion of assets and Post Savings Bank of China which has 39,707 branches.

Recently, when Reserve Bank of India decided to allocate banking licenses to IDFC and Bandhan Financial Services, India Post was not considered for a licence because it had not received the mandatory clearance from the government. But now India Post has received payments bank licence from the RBI to start rollout of banking operations commercially. As a payments bank, its activities are limited to acceptance of demand deposits, remittance services and other specified services.

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