The use of micro ATMs is increasing continuously in the country as compared to normal ATM machines. According to RBI data, there has been a three-fold increase in the number of micro ATM devices since the beginning of the corona pandemic. In May 2020, their number was around 2,38,810, which increased to 7,15,516 in February 2022. With this, the withdrawal and payment of Rs.
At the same time, there has been only a marginal increase in the number of normal sized ATMs. In May 2020, 2,10,415 normal ATMs were functional. At the same time, with an increase of 19 percent in February 2022, this figure has reached only 2,50,091.
Micro ATM withdrawals doubled
Cash withdrawals through micro ATMs have also almost doubled as per RBI data. A total of Rs 1,17,086 crore was withdrawn through it during the financial year 2019-20. In the next financial year, this figure increased to Rs 2,25,041 crore. About 92 percent was recorded. At the same time, from April 2021 to February 2022, the value of Rs 2,71,297 crore was withdrawn.
more use in rural areasExperts say that due to the corona epidemic, lockdown and committee activities, there is an increase in the use of micro ATMs. Especially in rural areas, people have taken this facility hand-in-hand.
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The reason is that normal ATM is not easily available here. Not only this, many people do not even have a debit card and even those who have, they do not know how to use it properly. In micro ATMs, only the Aadhaar number is required, with the help of which the transaction of rupees has become easy.
What is Micro ATM
Micro ATM machines are similar to the swipe machines available at the shops. This proves to be effective in areas where normal ATM machines are not available. Due to its small size, it can be carried by bank officials or authorized dealers to remote areas. Once the Aadhaar number is entered in the micro ATM and the identity is verified with thumb or finger, payment becomes possible.
its advantages