To deliver essential banking services conveniently to a large section of consumers living in relatively far-off areas, private lender Kotak Mahindra Bank Ltd on Tuesday announced the launch of Micro ATMs across the country. Kotak Mahindra Bank is an Indian banking and financial services company headquartered in city of Mumbai, India. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance and wealth management. Customers from all the banks who possess a debit card can use a Kotak Micro ATM for Key banking services such as cash withdrawals and checking account balances. A mini version of an ATM, micro ATMs are small handheld devices. The bank will use its extensive Business Correspondents (BC) network to launch micro ATMs.
In the first phase, the Bank is introducing Micro ATMs in the outskirts of the top 8 metro cities. Puneet Kapoor, President – Products, Alternate, Channels and Customer Experience Delivery, Kotak Mahindra Bank said, “The Micro ATM is a simple, innovative and highly effective solution to deliver essential banking services such as cash withdrawals in a convenient manner to people residing in relatively remote locations.”