India Post has drawn a massive plan to install as many as
3,000 ATMs and 1.35 lakh micro- 1,000 ATMs with the India Post branding will be
put in within the first year, which will be ramped up massively to 3,000 in the
next 18 months.
The micro ATMs will be handheld devices to be operated at
the post office level while the ATM will be similar to the one operated by any
commercial bank, she added.
The postal department, which has 1.55 lakh post offices over
90% of which are in villages, offers the savings account to people across the
country and pays an interest of 4% per annum for such deposits. The account
offers cheque facility at present.
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