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  1. India Post to approach RBI on ATMs

India Post to approach RBI on ATMs

India Post will soon approach the Reserve Bank of India (RBI) to get an approval for linking its ATMs for interoperability with commercial banks, as it plans to roll out over 10,000 ATMs across the country by the end of this year.

By: | New Delhi | Published: March 4, 2016 12:27 AM

India Post will soon approach the Reserve Bank of India (RBI) to get an approval for linking its ATMs for interoperability with commercial banks, as it plans to roll out over 10,000 ATMs across the country by the end of this year.

A senior official at the Department of Telecommunications said communications minister Ravi Shankar Prasad has asked the Department of Post (DoP) to expedite the process with RBI on priority. The official said that the minister will hold a meeting with the DoP and other concerned departments very soon in this regard.

The government wants an effective use of vast ATM network of India Post for implementing the mandate of financial inclusion and renewed momentum it has received in the Budget. Besides it would also help in popularising banking in rural areas.

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