Kotak Mahindra Bank introduces ‘ATM on wheels

Indian private banking company, Kotak Mahindra Bank, announced the launch of ‘ATM on wheels’ facility in and around Mumbai amid the nationwide lockdown caused due to the rapid spread of Coronavirus.

The private sector bank informed on Thursday after the market hours that the new facility is more or less like a regular ATM, except the fact that it will be on wheels and move around the city to enable customers of Kotak Mahindra Bank as well as other bank customers to withdraw money, check balance and take out mini statement, right at their doorstep on all days, including weekends.

‘ATM on wheels’ will be connected to the central database using global system for mobile communications (GSM) technology. The bank has launched this innovative service in Mumbai, Navi Mumbai and Thane (all in Maharashtra) as of now. They are planning to launch similar service in New Delhi by next week.

Nevertheless, the bank would take all precautionary measures like providing sanitiser to the customers before and after using ATM, periodic sanitisation of the ATM while, keeping a check that people standing in queue maintain social distancing.

At the time of market closing on Friday, the stock of Kotak Mahindra Bank Ltd was trading at Rs 1,186.45, up by 4.96 per cent against its previous close of Rs 1,130.35. Its 52-week high is Rs 1,739.95 while, its 52-week low is Rs 1,000.35 on BSE.