Money & Banking

AP Grameena Bank unveils desktop ATM in rural India

M Somasekhar Hyderabad | Updated on January 08, 2018

V Narasi Reddy, Chairman, Andhra Pradesh Grameena Vikas Bank



Move over independent ATMs, security and queues, here comes a desktop ATM, and that too in rural India.

In a trendy initiative, the Andhra Pradesh Grameena Vikas Bank (APGVB) has operationalised it’s first desktop ATM at Kasibugga in Mandi Bazar of Warangal in Telangana on Tuesday.

The mini ATM, within the branch premises, will facilitate customers to withdraw small amounts. At the same time regular bank account holders can withdraw money and do other banking activities. The model will be scaled up to 100 in the near future, said Narasi Reddy, Chairman.

With these ATMs, there is neither the need for separate ATM kiosks nor security for the same. It’s another IT initiative of the bank, which is the largest regional rural bank (RRB) sponsored by SBI.

The initiative was launched on pilot basis. Plans are afoot to install 100 more desktop ATMs in different busy branches. Sixty of these will be in Telangana and 40 in Andhra Pradesh. It can be installed in the lobby or any business establishment, Reddy said.

The ATM is designed to work in harsh climatic conditions and with minimum power requirements. It can dispense small denomination notes and cater to small cash needs of rural customers, who can activate and use their Rupay ATM debit cards.

Initially, the APGVB branches in Nalgonda and Patancheru in Telangana and Kancherpalem and Srikakulam in Andhra Pradesh will be equipped with these ATMs.

APGVB has total business of ₹27,092 crore, with deposits of ₹13, 805 crore and advances of ₹13, 287 crore. It makes profit and has adequate reserves and capital adequacy ratio, Narasi Reddy said.

Published on January 03, 2018

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