Micro-ATM services introduced in Rythu Bazaars

The State Marketing Department in association with IDFC Bank installed these machines in all the Rythu Bazaars in the city.

By Author  |  Published: 20th Dec 2016  10:03 pmUpdated: 20th Dec 2016  10:06 pm
Rythu Bazaars
POS Machine at Rythubazar.

Hyderabad: The impact of demonetisation for those visiting Rythu Bazaars, has reduced to a large extent with the introduction of micro-ATM services.

The State Marketing Department in association with IDFC Bank installed these machines in all the Rythu Bazaars in the city. Using the micro-ATMs, the customers are given cash coupons after debiting the amount from their bank accounts and these coupons can in turn are used to buy vegetables.

The measure has not only helped the customers, but also ensured that the business of farmers at the Rythu Bazaars is not affected. “Denominations of Rs 5 to Rs 50 are issued at micro ATM counters and at the end of the day, farmers surrender the token to get an equivalent amount credited to their accounts,” said G Lakshmi Bai, Director of Marketing. Since it was introduced on November 18, cashless transactions worth around Rs 6 lakh have been registered.

By using multiple identifiers including Aadhaar number, registered mobile number, bank account number or debit or credit card number, one can perform all basic banking transactions at Rythu Bazaars.