India Post to issue 5 Lakh new debit cards in next 2 months



News:

  • India Post, which has started issuing personalised debit cards to its savings account holders, is planning to issue 5 lakh new debit cards over the next two months.
  • The Department of Posts (DoP) started issuing the cards from last year and so far, it has reached close to 10,000.
  • Debit cards will be issued to customers from 2,600 large branches where core banking solution (CBS) has already been implemented. To start with, the account holders will be able to use these cards only at 115 India Post ATMs.
  • India Post is looking at opening 1,000 additional ATMs by March-end. It has 25,000 branches across the country and some 34 crore account holders from CBS-enabled and non-CBS branches.
  • India Post has recently signed a deal valued at Rs 30 crore with CMS Info Systems, a cash management and payments solutions company, to supply 1.5 crore RuPay-enabled debit cards.

Source: ET


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