Reported by: banking|Updated: May 22, 2019
Andhra Pradesh State Cooperative Bank (APCOB), the apex cooperative bank in Andhra Pradesh, is facilitating deployment of micro ATMs for all the 13 district central cooperative banks affiliated to it in a phased manner. Speaking to Banking Frontiers, Tulasi Prasad, MD of the bank, explained that the bank is doing so with the support of NABARD.
So far, 2520 micro-ATMs are deployed by the DCCBs, of which 2438 have been activated. Some 254 ATMs have been installed in 13 DCCBs and plans are afoot to install ATMs in all the DCCB branches. Each DCCB also has one mobile ATM to cater to village customers. Chittoor DCCB is first in the country to install ATMs at all its branches.
APCOB and the 13 DCCBs are issuing RuPay debit cards to their customers since June 2016 and the bank has launched mobile banking application using which customers can view their account balance, get mini statement and can do to and fro transfer of funds through NEFT. As part of the delivery channels, it is also implementing RTGS, NEFT, CTS, DBT, ABBS, SMS banking and mobile banking. It is also on the verge of introducing Aadhar Enabled Payment System (AEPS), Unified Payment Interface (UPI) and Bharat Bill Payment System (BBPS).