INVC NEWS New Delhi,
In a bid to make cashless transactions a reality and relevant in all aspects of life, Union Minister of State for Petroleum and Natural Gas Oil minister Shri Dharmendra Pradhan asked to install 5000 Micro ATMs at fuel stations on highways and rural areas. Minister was speaking during the launch of month-long programme to familiarize consumers with e-payment systems at Indian Oil Corporation Retail Outlet, Irwin Service Station, Baba Kharag Singh Marg, New Delhi.Micro ATM is a full featured banking access device enabling deposit, withdrawal, balance enquiry and money transfer to other Aadhaar linked bank accounts. This device is dubbed as a branchless banking device and work as a great tool for financial inclusion process. Oxigen is the only non-banking player approved to operate Micro ATMs. Oxigen Micro ATMs are currently deployed at over 1000 locations, largely in the Eastern part of the country including Bihar, Jharkhand and Orissa. Realizing the current demand, Oxigen has deployed Micro ATMs in the urban areas as well including approximately at 27 locations in Delhi NCR. Under the future expansion plans, Oxigen aims to install 3,000 additional micro ATMs by the end of December 2016 and over 1 million micro ATMs in the coming 3 years spread across the country.