Arunachal Pradesh Chief Minister Pema Khandu on Wednesday launched the Micro-ATM services of the Arunachal Pradesh State Cooperative Apex Bank Ltd in a simple function at his office in Itanagar.
Lauding the Apex Bank – the lone state owned bank – for extending its reach of services to the last man in the queue, Khandu said inclusion of micro-ATM services will immensely benefit the rural and poor people availing banking services.
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The Apex Bank, which has 37 branches, will launch 200 Micro-ATM services across the State.
Micro ATM is a mini version of an ATM with modified point of sales terminals.
This terminal can connect to banking network via GPRS to perform banking transactions.
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This machine contains card swipe facility and fingerprint scanner and can be carried by bank representative at remote/mobile locations.
It has facilities like cash withdrawal, cash deposit, Aadhaar-enabled payments and accept payments through debit/credit cards.
Meanwhile, reviewing the status and performance of the Apex Bank, Khandu said since its inception in 1978 the bank has seen many ups and downs.
Expressing concern on accumulated losses of the bank over the years, he said time was due for officers and administrators of the bank to tighten up their belts.
Reminding that the bank was established with the sole aim of serving the rural and poor people of the State, Khandu said the bank has to regain the confidence of people to make up for its lost glory.
“People will opt for Apex Bank only if they have confidence on it. You have to forget the past, particularly the lean period that the bank had to pass through, and give your best to revive the bank,” he asserted.
Khandu assured that the State Government will help the bank in all possible means and will consider parking government funds with the bank.
He, however, drove home the fact that the management and officials of the bank were responsible for the bad phase witnessed by the bank.
“If the bank is incurring huge loss due to bad loans, it is because of your lapses. You need to correct yourself for the bank to revive and sustain as a successful banking institution. I want to see a completely revamped work culture in the organization,” Khandu said.
e also directed strict action against loan defaulters and asked the Chief Secretary to engage the Deputy Commissioners actively in recovery.
Minister of Cooperation Honchun Ngandam also expressed concern over the recovery rate from loan defaulters.
He urged the bank officials to coordinate with the district administrations and fast-track its recovery process, while asserting that money of the poor people cannot be taken for ransom by few defaulters.
Ngandam also acknowledged the suggestion to park some government funds with the Apex Bank to keep it running successfully.
As a symbolic launch of the services, Micro-ATM machines were handed over to Aalo, Rupa, Naharlagun all-women bank, Ganga and Itanagar branches.
The programme was also attended by Chief Secretary Satya Gopal, Finance Commissioner, Finance Secretary and officials of the state Cooperative Apex Bank limited.