Finance Minister P Chidambaram inaugurates India’s 1st post office savings bank ATM in Chennai
Posted on: 28/Feb/2014 12:05:08 PM
Finance Minister P Chidambaram as a part of the government’s Rs.4,909 crore IT modernization scheme for the Department of Posts inaugurated the country’s first Post Office Savings Bank ATM in Chennai.
After launching the ATM service at Thiyagaraya Nagar Head Post Office (HPO), Chidambaram said that Rs.4,909 crore had been allocated for the IT modernisation of Department of Posts in the interim budget for 2014-15.
The IT modernisation scheme would cover 1.55 lakh Post offices and would be implemented by next year.
Speaking about the newly launched ATM service at the HPO, Chidambaram said that while it will initially operate in a closed environment for about six months, it will later change to ‘inter-operability,’ on the lines of bank ATMs, allowing customers to withdraw money from any ATM.
