Micro ATM solution
Micro ATM solution is integral part of Government of India’s FI Mission. It offers various banking services at an affordable cost to the vast sections of disadvantaged and low income group.
The various solutions include:
- RuPay Card-based On-us and Off-us transaction on Micro ATMs
- AEPS Cardless On-us and Off-us Transactions on Micro ATMs
- eKYC Transactions
Micro ATM solution enables the unbanked rural people to easily access micro banking services in a very cost effective manner at remote locations.
Micro ATM solution will help in creating additional earning opportunity to the BC as well as Acquiring Bank.
Micro ATM enables online updating of transactions, thereby helping rural banking digitalisation.
Micro ATM are cost-effective. They support vernacular language display and voice with inbuilt biometric authentication that helps the banks to achieve total financial inclusion in real terms.
NABARD has announced Claim for assistance under Financial Inclusion Fund (FIF) for Micro ATMs.
NABARD will allow bank to claim reimbursement to the extent of Rs.6,000/, after the deployment of POS devices at Tier 5 and Tier 6 Centres. The bank can claim reimbursement in maximum of two instalments per sanction.
