Bharat Electronics to manufacture Micro ATMs, Citizen Verification Devices
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. He said the device which looks like a point of sale machine is fully secure and tamperproof, currently being used for Public Distribution System (PDS) schemes in some states. 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
