SRIKAKULAM: Giving respite to the public from the currency crisis in the district, the banks here have proposed to set up Point Of Sale (POS) counters across the district and encourage cashless transactions. The SBI has mooted setting up of nearly 500 counters while the SBH will follow suit with 125 counters.
With the initiative, people could shop by swiping ATM/debit/credit cards in the POS. It will be a sigh of relief for businessmen with the POS at their business outlets, said the bank manager of a leading bank P Venkateswara Rao, here on Friday.
The bank manager added that they were planning to set up swiping machines at petrol pumps, RTC Complex and other major business points across the district. He appealed to the traders to apply for the swiping machine by paying a rent of Rs 300 ar month. Business establishments can open a current account in any bank to carry the online transactions with the help of swiping machine.
We have sent an indent for 800 machines in the initial phase and the swiping machines are expected to be set up next week across the district, said Rao. According to the official, swiping machines would be set up at rythu bazars as well and discussions are going on regarding the installation of POS counters at fair price shops too. The bank is making efforts to recalibrate ATMs to dispense the new Rs 2,000 notes within two days.