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How ATMs are amping up tech power, innovation to serve as mini banks

A silent revolution is playing out in the field of banking transactions in India

T E Narasimhan 

Picture this. In a remote Tamil Nadu village, a man walks briskly, stopping occasionally to ask a passing local something. One person points him to a fuel station.

With an expression of disbelief, he approaches it and tells an attendant what he needs. He is pleasantly surprised when she takes his debit card, processes it in a hand-held swipe machine, and gives him the cash he had asked for. A silent revolution is playing out in the field of banking transactions in India. In the last 12 months, the Reserve Bank of India (RBI) has brought in nearly 10 new regulations to make ATM transactions ...

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First Published: Wed, March 18 2020. 22:04 IST
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