Which Bank Launched Micro ATMs Across India? || Some Information About Micro ATMs || 2021 ||

KOTAK MAHINDRA BANK LAUNCHED MICRO ATMS ACROSS THE COUNTRY :

      Kotak Mahindra Bank Ltd. announced on Tuesday that it would be going to launch micro ATMs across India. The main purpose of this initiative is to provide convenient banking services to a large number of consumers living in relatively remote areas. In its first phase, Kotak Mahindra Bank is launching micro ATM services in the top 8 metro cities, where the demand for cash withdrawals is high but the number of ATMs is low.

      Kotak Micro ATM offers banking services such as cash withdrawals and account balance checks to customers of various banks holding debit cards. This micro ATM is a smaller version of the ATM, which is a very small and hand-held device. The bank will utilize its costly Business Correspondence (BC) network to launch micro ATMs. Kotak Mahindra Bank's President - Products, Alternative Channels and Customer Experience Delivery, Puneet Kapoor said, "This micro ATM is a applicable substitute to regular ATMs." This micro ATM shows the way for rapid expansion and enhances banking touchpoints for consumers. At the end of August, there were 2.13 lakh ATMs across the country, up from 2.09 lakh in the same period last year, a slight increase of 1.5 percent from the previous time. On the other hand, the number of micro ATMs increased from 3.07 lakh in August last year to 4.94 lakh in August this year, which means that the number of micro ATMs has increased by more than 60 percent.

SPECIAL NOTES FOR ASPIRANTS :

• Kotak Mahindra Bank was established in February 2003.

• It is headquartered in Mumbai.

• Uday Kotak is the CEO of Kotak Mahindra Bank.

• Prakash Apte is the Chairman of Kotak Mahindra Bank.

• Kotak Mahindra Bank currently has 71,000 employees.