Vortex Engineering, a Chennai-based rural ATM (automated teller machines) manufacturer, has bagged an order from the State Bank of India for deployment of 545 ATMs across semi-urban and rural India.
V Vijay Babu, chief executive officer and director, Vortex Engineering said of these 545 ATMs, over 300 will be solar-powered. The solar-powered Gramateller Duo ATMs -- its brand name -- have been developed in collaboration with IIT Madras.
According to him, a conventional ATM consumes about 1,000 watt of power and requires an air-conditioned environment—another 1,500 watt—for functioning. Thus, consuming about 1,800 units of power a month.
As against this, solar-powered ATMs consume less than 100 watt and do not require air conditioning, consuming less than 72 units per month. This indicates a saving of 1,728 units per month and around Rs 1.20 lakh a year (at a conservative commercial rate of Rs 6 per unit).
With an ATM penetration of about 0.04 per 1,000 people in India, there is a huge need for rural ATMs, he said, adding Gramateller will also be 20 per cent cheaper than other ATMs.
The company has installed four ATMs as a pilot in Cuddalore district of Tamil Nadu for SBI. These machines are being used by the local administration to pay the beneficiaries of the National Rural Employment Guarantee Scheme.
“Around 1,000 transactions happen through each ATM under this scheme,” said Babu.