By early April, postal customers in Chennai will be able to access their savings accounts from any of four select post offices.
Union finance minister P. Chidambaram, in his budget speech on Thursday, highlighted measures to modernise post offices with core banking facilities.
Meanwhile, the department of posts, Tamil Nadu circle, has already initiated a process to interconnect head post offices in Anna Salai, Mylapore, St. Thomas Mount and T. Nagar.
Once the facility is made available, customers of these four post offices can avail the benefits of banking services.
As of now, customers of these networked head post offices alone can make transactions in any of them. They will soon have access to automated teller machines, to be set up in these offices.
At present, Reserve Bank of India has authorised ATMs to be operated exclusively by postal customers. It will allow extension of services to bank customers based on their performance.
In the long run, post offices will provide all kinds of banking services such as internet and mobile banking. The department is also considering integrating other postal services through banking in the future.