J&K Bank's Virtual ATM: Bridging Financial Gaps in Rural India

Jammu and Kashmir Bank launches a virtual ATM (vATM) platform to boost financial accessibility, especially in rural areas. Developed in collaboration with Paymart India, this initiative aims to enhance digital banking convenience with seamless, secure transactions via the bank's mobile app.

The Jammu and Kashmir Bank has taken a significant step forward in financial accessibility by launching a virtual ATM (vATM) service on Friday. This move aims to leverage technology to empower individuals financially, particularly in rural areas where banking services are scant.

The cutting-edge vATM platform was developed in partnership with Paymart India Pvt Ltd and was inaugurated by the bank's Managing Director and CEO, Baldev Prakash. The launch event, hosted at the bank's corporate headquarters, saw the presence of Paymart India's Director and CEO, Amit Narang, and other senior officials.

At the event, Prakash emphasized the importance of technology in reaching underserved regions but stressed the need for personal customer engagement to build trust. The vATM allows customers to withdraw cash seamlessly using the bank's mobile app through enrolled Paymart merchants, delivering convenience, and safety—key aspects for India's cash-centric economy.

(With inputs from agencies.)