To ease the cash crunch and chaos after the demonetisation of Rs 500 and Rs1000 currency notes, government is now relying on a relatively new Micro-ATMS. The Department of Economic Affairs Secretary Shaktikanta Das has said that micro-ATMs will be set up across the country to get rid of the cash-crunch situation. Through micro-ATMs, government will address the problems that people are facing in rural and semi-urban areas, where the ATM network is not strong. Know what are Micro-ATMs and their various aspects.
What are Micro-ATMS?
Micro-ATMs are biometric authentication and Repay/ Debit cards enabled hand-held machine, like swipe machines. The ATMs would be touch based user-interface and it will include a supporting card reader along with a receipt printer for printing receipts for all transactions. The integrated fingerprint sensor shall be used for authenticating all transactions.
What Micro-ATMs can do?
Through Micro-ATMs, a person can instantly deposit, withdraw money, remittance and pay utility bills. The money transaction would be done irrespective of the banks that person has account in.
Where they will be available?
These Micro-ATMs will be made available with a bank mita and bank correspondents in the rural areas.
Safety features of Micro-ATMs
To operate the Micro-ATMs people would have to authenticate his identity through account number, Pan card, Aadhaar number, linked phone number and ATM Card Number.
Benefits of Micro-ATMs