OSRTC ties up with Indicash® ATM network to serve close to 35 Lakh commuters.

02nd March, 2016

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Tata Communications Payment Solutions Limited (TCPSL), the company that operates the largest white label ATM network in the country, Indicash®, today announced the inauguration of Indicash® ATMs at Odisha State Road Transport Corporation’s (OSRTC) bus depots. As a first step towards this significant initiative to extend ATM convenience across OSRTC bus stands in Odisha, two Indicash ATMS were installed at the Baramunda Bus Stand in Bhubaneshwar and Badambadi Bus Stand in Cuttack. These ATMs will extend cash and non-cash services and convenience to over 10 lakh commuters and passerbys at both the bus depots. The Indicash® ATMs were jointly inaugurated by Mr. Ajay Sagar, Head of ATM deployment, TCPSL, Mr. Anurag Nigam, Chief of Operations, TCPSL and Mr. Saroj Kumar Patel, General Manager, OSRTC, Mr. Sudip Kumar Behra, District Transport Manager, OSRTC.


Indicash® has built a robust network of over 7,000 ATMs across 20 states, 360 districts and 4,000 towns providing ATM convenience to close to 2.5 crore customers in over two years in the country, an accomplishment with parallels in the FMCG sector in terms of speed and efficacy. With a strong network footprint of over 200 ATMs in Odisha, the state plays a vital role in the company’s rollout plan. Indicash® is currently serving lakhs of users across 20districts of Odisha spanning semi-urban and rural geographies. This inauguration is yet another step in realising Indicash® ATM networks’ vision to drive financial inclusion in the country.


Sanjeev Patel, CEO, Tata Communications Payment Solutions Limited, says “Indicash® ATM network’s mission is to augment customer convenience by providing ATM accessibility in hitherto untapped remote geographies across India. We are committed to expand the Indicash® ATM convenience to Odisha, given it is one of the highly underpenetrated ATM markets in the country. As we move towards achieving our goal, this partnership with OSRTC will nurture our common cause of providing ‘convenience and comfort’ to consumers, especially those residing in remote areas. We look forward to a continued association with OSRTC and are working towards extending Indicash® ATM’s convenience to all key OSRTC divisions in Odisha.”


Mr. Saroj Kumar Patel, General Manager, OSRTC, says, “We are happy to partner with Indicash® ATMs, the largest white label ATM network in India, spearheading ATM accessibility in the country. We have been witnessing an increased demand by the commuters to extend ATM convenience at our bus stands, which are an important congregation point in villages. This tie-up is a significant step towards providing our commuters with the ATM convenience at our bus stands and depots itself. Post the successful pilot launch, we look forward to strengthening our association with Indicash® ATMs, by extending this service to over 22 bus stands in remote geographies of Behrampur, Rourkella, Angul, and Sambalpur, amongst others.”


Indicash® ATMs offer a host of cash and non-cash services such as cash withdrawals, balance enquiries, mini-statements, PIN change and VAS services like card-to-card transfer, cheque book request and bank statement request. It accepts all domestic debit cards with the first five or three transactions per month being free, depending on the location, in line with RBI regulations for use of ‘other bank’ ATMs.


Part of the $108.8 billion Tata group, the Indicash® ATM network was created to ensure convenience and ease of access to lakhs of citizens residing in satellite cities, rural towns and villages of the country. India is currently an underpenetrated1 ATM market with just 179 ATMs per million of population (compared to 1608 in Australia, 1298 in the UK, 593 in Singapore and 550 in China). The company plans to take the network footprint to close to 15,000 ATMs by 2017, with a strong focus on driving ATM penetration in tiers three to six markets.