About Micro ATM
Micro ATM meant to be a device that is used by a million Business Correspondents (BC) to deliver basic banking services. The platform will enable Business Correspondents (who could be a local kirana shop owner and will act as ‘micro ATM’) to conduct instant transactions.
The micro platform will enable function through low cost devices (micro ATMs) that will be connected to banks across the country. This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular BC.
The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal, Fund transfer and Balance enquiry.
What Transaction can be done through MICRO ATM?
- Cash Withdrawal
- Balance Enquiry
What are the benefits of using Micro ATM?
- Now convert your shop into ATM
- This is a low cost option for existing ATMs
- Portable Device
- Easy to Carry and setup anywhere in remote areas
- Helping people to be useful in the process of Demonetization