A Micro ATM, short for Micro Automated Teller Machine, is a portable device that facilitates basic banking services in locations where traditional ATMs are not readily available. It serves as a cost-effective and efficient solution to bring banking services closer to underserved areas and remote communities.

Key features and functionalities of a Micro ATM include:

1.Cash Withdrawal and Deposit: Users can withdraw and deposit cash using a Micro ATM. This feature is particularly beneficial for individuals who live far from brick-and-mortar bank branches.

2.Balance Inquiry: Micro ATMs allow users to check their account balance on demand, providing them with instant access to their financial information.

3.Fund Transfer: Micro ATMs enable fund transfer services, allowing users to send money to other bank accounts seamlessly.

4.Aadhaar-enabled Services: Many Micro ATMs are Aadhaar-enabled, meaning they can authenticate users using their Aadhaar number and fingerprint biometrics for transactions.

5.Bill Payments: Some Micro ATMs also support bill payment services, allowing users to settle utility bills, mobile recharge, and more.

6.Financial Inclusion:Micro ATMs play a crucial role in promoting financial inclusion by extending banking services to unbanked or underbanked populations in rural and remote areas.

7. Portable and Battery-operated Micro ATMs are designed to be compact and portable, often running on battery power. This makes them suitable for use in areas with limited infrastructure or unreliable electricity supply.

8. Secure Transactions Micro ATMs employ robust security measures, including encryption technologies and biometric authentication, to ensure the safety and confidentiality of transactions.

Micro ATMs are typically operated by authorized agents or business correspondents of banks. These agents undergo training and are equipped with the necessary hardware and software to conduct banking transactions securely.