Cashing scheme: Three ATMs for post office accounts in city soon | chandigarh | Hindustan Times
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Cashing scheme: Three ATMs for post office accounts in city soon

chandigarh Updated: Mar 13, 2015 12:53 IST

Three post offices in Chandigarh are set to get automatic teller machines (ATMs), bringing 24x7 banking to post office savings account holders.

The ATMs, which will be located at the post offices in Sector 17, Sector 19 and Industrial Area, are likely to become operational in a couple of months.

“The construction for the kiosk is near completion, and the machines are here. Now we are awaiting rollout of the cards,” said Hari Mohan, superintendent of post offices (SPO), Chandigarh.

So far, he said, the provision to use other banks’ ATM cards is not to be made available, as the PO accounts are not directly governed by the relevant rules of the Reserve Bank of India. But, the new initiative would cover a huge network of people, especially those from the middle and lower-middle classes, said officials.

In Chandigarh and Punjab combined, 26 such ATMs are to be set up, covering around 8 lakh account holders. Of these, 4 lakh are in the Chandigarh division alone, which includes SAS Nagar and Rupnagar districts. One of the ATMs is to come up in Rupnagar. Besides, there will be two ATMs each in Ludhiana, Amritsar and Jalandhar, besides an ATM each in Patiala, Rajpura, Batala and Sangrur among others.

As for the security of the ATMs, the officials said the dedicated security staff at POs would also guard the kiosks as they would be part of the PO buildings and not standalone.