Airtel Payments Bank to install 1.5 lakh micro-ATMs this fiscal
By MYBRANDBOOK
Airtel Payments Bank is rolling out 1.5 lakh micro ATMS in a phased manner across tier 2 cities and semi-urban regions to facilitate cash withdrawal for its customers. The company plans to finish the rollout of 1.5 lakh micro-ATMs by the end of the current fiscal.
The micro-ATMs will be handled by Banking Correspondents (BCs) who will initiate the transaction by entering the withdrawal amount. The customer will insert their debit card into the device and enter the PIN to confirm the transaction. The BC will authorise the transaction by entering their MPIN to complete the transaction.
The bank will leverage its strong network of over 5 lakh banking points across India to give users access to easy cash withdrawals through this initiative. Airtel Payments Bank customers will be able to withdraw up to Rs 10,000 per transaction through the Micro ATMs.
The company said, “Micro ATMs will be rolled out in a phased manner. Initially, the bank will place 1,50,000 units in Tier II cities and semi-urban regions. These regions typically have a high demand for cash withdrawal services but limited access to ATMs. We are committed to building a financially inclusive India by making banking services accessible to all. The launch of Micro ATMs is one more step by us to empower customers residing in the rural pockets of the country.”
Airtel Payments Bank Chief Operating Officer (COO) Ganesh Ananthanarayanan said, “It is the first device launched by the Bank, and we are truly excited, as it allows us to service customers of any bank who use a debit card. Micro ATMs are an important addition to our existing bouquet of differentiated services.”
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
ZOHO CORPORATION PVT. LTD.
TP-LINK INDIA PVT. LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
PARTNER SPEAKERS
PSU
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
