Reserve Bank of India (RBI) has approved the India Post’s proposal for interoperability of its ATMs with other banks. Now the ATM card issued by India Post can be used in ATM installed by any Bank. Likewise, customers of all banks can use India Post ATM to withdraw money from their bank accounts. Earlier, people with accounts in Post Office Savings Accounts can only use the services of the India Post ATMs.
Equipped with a wide network of core banking solution (CBS) branches, Pensioners and other savings bank account holders, including Monthly Income Scheme (MIS) account holders with the postal department need not hence-forth wait in long queues for withdrawal of cash. They could withdraw up to a maximum of Rs. 10,000 at a time from any ATM in India with the ATM cards issued to them.
DOP ATMs are interoperable now, however still under observation for a week. As per postal directorate orders all the DOP ATMs should be functioning and kept open 24X7. Same time, instruction has been issued to all the ATM site located SOLs to personally check the ATM screen by using other bank ATM cards and do some sample transactions. If the other bank cards are not functional in those ATMs they have to consolidate such ATM location details with ATM ID and SOLID for taking up the issue with respective vendor for early rectification by 02/01/2017 1100 hours.
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