Budget 2016: Government to undertake massive rollout of ATMs in post offices

The Department of Posts (DoP) has already announced plans to open 1,000 ATMs by March this year and also bring all 25,000 departmental post offices under core banking system.

By: PTI | New Delhi | Updated: February 29, 2016 5:00 pm

budget 2016, budget live, union budget 2016, general budget, 2016 budget news, budget news, union budget news, general budget news, budget 2016 news, budget income tax, union budget 2016, income tax, budget expectations, arun jaitley, budget news india, budget india newsThe government today announced it will undertake a massive rollout of ATMs in post offices over the next three years as it looks to provide better access to financial services in rural areas.

“To provide better access to financial services, especially in rural areas, we will undertake a massive nationwide rollout of ATMs and micro ATMs in post offices over the next three years,” Finance Minister Arun Jaitley said in his Budget speech for 2016-17.

Watch Budget 2016: Editors First Take on Arun Jaitley’s Announcements

The Department of Posts (DoP) has already announced plans to open 1,000 ATMs by March this year and also bring all 25,000 departmental post offices under core banking system. DoP has 25,000 departmental post offices and 1,30,000 rural post offices across the country.

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The core banking system will enable customers to operate their accounts, and avail banking services from any post office on its network, regardless of where they maintain their account.

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