Puducherry

Puduvai Bharathiar Grama Bank introduces mobile ATM

The Puduvai Bharathiar Grama Bank has rolled out the city’s first mobile ATM to ease the difficulties of consumers in accessing cash during the COVID-19 lockdown. Chief Minister V. Narayanasamy flagged off the vehicle at the Assembly in the presence of Speaker V. P. Sivakolundhu and Welfare Minister M. Kandasamy.

The bank, which is a regional rural bank, with equity of the governments at the Centre and State, is sponsored by the Indian Bank.

While the Indian Bank provided a functioning ATM, the grama bank repurposed a vehicle, which was sponsored by Nabarad under the Financial Inclusion Fund.

"We have launched the mobile ATM with a cash reserve of Rs.5 lakh and will load more money depending on the demand," said J. Margaret Laetitia, bank chairman.

The mobile ATM will be deployed near markets and sites where rural workers are engaged. New locations would be determined on the basis of demand, the official said.

Uma Gurumurthy, district development manager, NABARD, B. Veeraraghavan, Indian Bank zonal manager, Udhayakumar, lead district manager, and Mohan Kumar, general manager of the grama bank participated in the launch.

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Printable version | Jun 2, 2020 12:25:49 AM | https://www.thehindu.com/news/cities/puducherry/puduvai-bharathiar-grama-bank-introduces-mobile-atm/article31458007.ece

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