A Punjab government press release quotes an official saying the state goverment will install micro ATMs in its all 3,535 primary agricultural cooperative societies (PACS) and district central cooperative banks (DCCBs) to boost rural financial inclusion in the state, reports PTI.
Additional Chief Secretary-cum-Financial Commissioner, Cooperation D P Reddy said cooperatives have played a vital role in improving the economic conditions of the farmers and accelerating the pace of development in Punjab.
According to the official, Nabard by approving 4, 545 micro ATMs and agreeing to meet 90 percent cost of the ATMs will help the cooperative department extend digital facilities to the countryside.
Explaining the benefits of micro ATMs, Reddy said all banking facilities such as balance enquiry checking, cash deposit or withdrawal, fund transfer and remittance could be provided through these tiny devices.