For the first time Axis bank introduced e-KYC micro ATM facility in Adilabad district of Andhra Pradesh. On the basis of Aadhar, account of acustomer will be opened. This service will enable the customers to open the account, eliminating the need of paper work. Through this the customers can open account through micro ATMs.
To open the account the person will visit have to visit the bank’s correspondent who will in turn handle the Micro ATM – a portable device through which aadhar based account will be opened. After the opening of account the customer will soon receive the account number and the service will get started within 24 hrs.
The service will reduce the time taken initially to open the account that was generally around 1 week. This will facilitate customer with easiness and hassle free service in opening bank account. Through this customer can make both payments as well as enrolments. This facility can bring a change in banking sector. This is a very efficient way of opening account that without much burden.