In order to provide more financial assistance to the people below poverty line, Muthoot Finance launched a new white label ATM in kochi. While inaugurating the ATM Mr. Nikhil Kumar stated that it is the part of their social responsibility to assist the poor people with the financial help.
White label ATMs work similar as the other banking ATMs providing the facility of cash withdrawal and balance enquiry. Muthoot is further planning to establish 9,000 more such ATMs across the country in coming 3 years. The company is working jointly with FIS Payment Solutions and Services India for technical support and federal bank is the sponsor bank. Further the chairman of the company stated that they will set up more of the ATMs in rural and semi urban areas and provide best services to their customers.