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Now ATM at your doorstep

Hyderabad: Central government has decided to introduce Micro ATMs which will help people deposit and withdraw money in their bank account at their doorstep. After banning Rs. 500 and Rs. 1000 currency, central government is taking severe cash crunch seriously. It has been decided to introduce Aadhaar enabled micro-ATMs. Finance secretary, Govt. of India Shashi Kant Das told that Micro ATMs are card swipe machines through which banks can remotely connect to their core banking system. The Micro ATM is portable and has connectivity through GSM, hence it can travel from village to village, said Das during a press interaction on Monday.

He further added that about 2 lakh micro-ATMs will come to the rescue of people as the government has directed banks to activate nearly 1.1 lakh such ATMs in rural areas and nearly 90,000 in urban and semi-urban areas. This machine comes with a fingerprint scanner attached to it. Micro ATMs are similar to point of sale (PoS) terminals and are a doorstep mobile banking arrangement cum-mobile ATM device. Bank will assign a correspondent who will sign up customers in remote areas after verifying their identity.