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Post offices to be like banks
Posted on: 08/Aug/2013 10:16:19 AM
There is good news for postal customers because they will soon be able to access their savings bank account in any post office in the city.The department of posts is putting in place core banking solutions (CBS) at four of its head post offices in Chennai, and the process is expected to be completed by September. This means these post offices will become like banks and offer a range of services.
At present customers who have postal savings accounts have to go to the post office where their account is to carry out any transaction. They also have to wait in long queues to withdraw cash or to get their monthly pensions.
But once CBS is implemented, customers can go to any post office covered under the system and carry out transactions. The project also envisages installing ATMs at these four post offices by October, so that their 2.5 lakhs account-holders will be able to access their accounts at the swipe of a card.
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