Public sector defence electronics major Bharat Electronics Limited (BEL) on Wednesday announced its foray into manufacturing Micro ATMs and Citizen Verification Devices (CVD).
Capable of strengthening financial inclusion in the country, the portable BEL Micro ATM can facilitate a low-cost payment platform for all type of card transactions using a magnetic strip card or contact and contactless chip card. “A banking professional carrying cash separately can execute banking operations in remote locations facilitated by the Micro ATM,” said senior BEL staffer V. Mahesh overseeing their production. Mahesh said nearly 5,00,000 Micro ATMs will be required in 2-3 years as central government is directing state governments to deploy such a solution. BEL is currently executing its initial order of 4,000 Micro ATMs.