Meerut gets its first postal ATM

MEERUT: The city’s first-of-its-kind postal ATM was thrown open to the public in the Meerut Cantt post office on Wednesday. The ATM is expected to cater to over one lakh people who have postal account in post offices in the city. It will provide banking operations approved by the Reserve Bank of India.

“As of now, complete computerization of postal accounts has been done. Platforms for core banking solutions are being built to integrate records of savings bank deposits with the department’s branches pan-India,” said Arvind Kumar, senior post master, Meerut cantt post office.

“Initially, 50 instant ATM cards were procured so that they can be tested by the employees. We earlier had plans to inaugurate it properly but now due to lack of time, we are simply throwing it open for public use,” added Kumar.

With the launch of postal ATMs, all the post offices linked with core banking system (CBS) would be able to make easy transactions via these ATMs. Presently, over 260 post offices have been linked with CBS in UP.

India Post ATM services are already functioning in cities including Bengaluru, Mysuru, Hubballi-Dharwad, and Kalaburagi. Meerut is included in the second phase, in which over 1,000 ATMs are being installed in the country. India Post has over 34 crore savings bank accounts, 1.55 lakh branches and over 1,000 ATMs are being set up this year, with at least one ATM in the each of the 678 districts in the country.

“With time, the usage of these ATM cards can be done in bank ATMs too and vice versa,” said Kumar.