Chief Minister Pema Khandu launched the Micro-ATM services of the Arunachal Pradesh State Cooperative Apex Bank Ltd. Khandu said inclusion of micro-ATM services will immensely benefit the rural and poor people availing banking services. Arunachal government stated the Apex Bank, which has 37 branches, will launch 200 Micro-ATM services across the state.
Micro ATM is a mini version of an ATM with modified point of sales terminals. This terminal can connect to banking network via GPRS to perform banking transactions. This machine contains card swipe facility and fingerprint scanner and can be carried by bank representative at remote/mobile locations. It has facilities like cash withdrawal, cash deposit, Aadhar-enabled payments and accept payments through debit/credit cards.
Cooperation Minister Honchun Ngandam also expressed concern over the recovery rate from loan defaulters in Arunachal Pradesh. He urged the bank officials to coordinate with the district administrations and fast-track its recovery process, while asserting that money of the poor people cannot be taken for ransom by few defaulters.
Ngandam also acknowledged the suggestion to park some government funds with the Apex Bank to keep it running successfully.