STOCK MARKET BSE NSE

Turanth: SBI, India Post Tie-up for Cashless Transactions at Post Offices

Published: 05th July 2015 05:29 AM  |   Last Updated: 05th July 2015 05:29 AM   |  A+A-

HYDERABAD:  Enabling cashless transactions at the post offices, BV Sudhakar, chief postmaster general (PMG) and C R Sasi Kumar, Deputy managing director,  State Bank of India,  inaugurated Point of Sale (POS)  machine at the General Post Office here on Saturday.

Turanth.jpgSpeaking on the occasion,Sudhakar explained the initiative taken by the AP circle in collaboration with the SBI. “We have named this project ‘Turanth’, through which, the payments for registered post, parcels and other services would be accepted through debit and credit cards. Customers, especially in rural areas, can also draw an amount up to Rs 1,000 by using these machines,” he said.

‘Turanth’ which was initially launched at 108 post offices in Telangana and AP states  on a pilot basis, will now be extended to another 2,467 post offices across both states within a month.

Gopal Krishan Kansal, chief general manager, SBI, said  “SBI-India Post tie-up is a meeting of two giants, which is going to be a game changer and will lead to the digitization of payments across the country by deploying POS terminals, even in remote locations, to promote a cashless economy and to build card culture. The day is not so far, when the use of ATM machines will be drastically reduced, and it won’t even be surprising if there are no ATM machines at all because of the increase in usage of the cards .”

Sudhakar also explained the recent initiatives like TTD darshan ticket, sale of non-judicial stamp papers, distribution of ‘Godjal’ holy Pushkar water through post offices and the launching of a new e-commerce site of India Post.

A special cover to mark the golden jubilee year of SBI, Hyderabad circle was released by Sudhakar and presented to  Sasi Kumar. ‘My Stamp’ service, which allows customers to have their photo on the stamp, has also been launched. The service will be available to the public from July 14.

Stay up to date on all the latest Hyderabad news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp