In the government’s push towards mainstreaming digital transactions, UIDAI, the agency behind Aadhar, has launched Aadhar based Micro ATMs, in a move that it hopes will benefit 59 crore Indians, Jagran has reported.
The Micro ATMs facilitate card-less and PIN-less transactions, requiring just the customer’s Aadhar number and finger print as the identity proof. This brings digital transactions within the reach of India’s rural populace which still lacks access to credit and debit cards.
With only your Aadhaar number, you get doorstep access to banking services. Over 4 Lakh Aadhaar Micro ATMs (locate one near you from: https://t.co/xD3WX1EJRh) providing card-less Pin-less banking across India. For bringing banking services closer, #HumHainAadhaarKeSaath pic.twitter.com/ATXSUI545c— Aadhaar (@UIDAI) May 17, 2018
4 lakh such micro ATMs have been operationalised across the country, with Bank MITRs being the touch-points for these services in rural India.
These modified points-of-service (POS) machines can be used by customers to withdraw and deposit money in their bank accounts too, just with their Aadhar number and fingerprint. There’s no service charge for the transactions made over these Micro ATMs.
The move is part of the larger move by the government towards pushing cash-less transactions and is inline with other banking reforms like Jandhan accounts and Aadhar card linking with bank accounts.
Here’s how the Aadhar based POS machines work:
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.