Bank transactions at three post offices in the city
Posted on: 27/Dec/2013 12:55:56 PM
Now Chennaites can carry out bank transactions at three post offices in the city. India Post offer a range of services at its post offices in T Nagar, on Greames Road and the one attached to the department of public instruction on College Road.
The move comes in the wake of the Reserve Bank of India issuing final guidelines for new permits to start banks earlier this year. India Post will also set up ATMs at four head offices in the city and will be part of the overall ATM switch of banks in a year.Core banking solutions have been launched at the three post offices as part of a pilot project.
The first of the four ATMs will come up in T Nagar in January, followed by ones in Mylapore, Tambaram and Anna Salai. The move to launch core banking services is to compete with other commercial banks, the official added. Core banking services are provided by a group of networked bank branches, allowing customers to access their funds and conduct transactions from any of the member branches.
The project is intended to increase accessibility of customers to postal banking services. Having lost a lot to the email and other internet-enabled services, India Post has been trying to reinvent itself to stay relevant.
