V-Mart: One of the largest chain of family fashion stores in India catering to tier-2 and tier-3 cities has decided to lend its support to the nationalistic cause of demonetization by providing the citizens easy access to cash across India.
The retail giant, which operates 136 stores across 116 cities, will enable Smart ATMs at all its stores allowing citizens to withdraw cash uptpRs. 2000 on their Debit cards.
Speaking on the initiative, Mr. Lalit Agarwal (CMD- V-Mart Retail Ltd.) said, "What we are witnessing today is nothing short of a revolution and we fully support the initiative taken up by the Indian Government. And as with every revolutionizing initiative, there is bound to be certain hurdles and hardships. In our endeavor to assist the citizens tackle the after-effects of demonetization and assist the government in easing the current cash-crunch; all of 136 V-Mart stores will act as Smart ATMs, allowing the citizens to withdraw cash and avoid hassles of queuing up at Banks."No charges are being levied either by the bank or by VMart for the transaction.
Vodafone India: Committed to supporting the Government's bold step to accelerate India's progress into a less cash economy,today announced a unique cash out facility for its 8.4 million plus Vodafone M-Pesa customers who can withdraw cash using their digital wallet from any of the over 120,000 Vodafone M-Pesaoutlets across the country, subject to availability.
Announcing this, Suresh Sethi, Business Head, VodafoneM-Pesa, said: "Vodafone M-Pesa customers do not need to stand in long queues outside ATMs and bank branches for cash.We have invested in building a nationwide network of over 120,000 M-Pesaoutlets, equivalent to the numbers of bank branches in the country. Over 56% of these outletsare located in the rural India, enabling last mile disbursement in the hinterland. Our customers can visit any of these outlets and use the unique cash out feature of Vodafone M-Pesato withdraw cash from their digital wallet at their convenience. Further, the Vodafone M-Pesadigital wallet too can be easily digitally loaded via credit or debit card or net banking. Additionally, the Vodafone M-Pesa wallet can also be used to shop online, pay bills and remit money to family and friends. Such comprehensive features, a nationwide distribution and service network and the unique cash out facility make Vodafone M-Pesa the ideal digital wallet for masses."
To avail the cash withdrawal facility, customers need to carry an identity proof to their nearest Vodafone M-Pesa outlet from where they can withdraw money, subject to availability, in line with RBI guidelines.
Big Bazaar & fbb Stores: Big Bazaar has announced starting 24th November, Thursday, all its stores, along with all fbb stores will be enabled to allow customers to withdraw upto Rs 2000 from their own bank accounts, using their Debit/ATM cards. This facility is now available in 258 Big Bazaar and fbb stores in over 115 cities and towns across the country. State Bank of India has helped Big Bazaar enable this facility through the bank's Cash at POS machines. Customers can withdraw cash from their bank accounts of any scheduled bank in the country.
Commenting on the development, Mr. Kishore Biyani, Chairman, Future Retail Limited said, "We are trying hard to ease any difficulties faced by customers due the demonetization of some currency notes and support the government's initiative in meeting its objective. Now with customers being able to withdraw cash at Big Bazaar stores, they are welcome to visit our stores instead of qeueing up at banks and ATMs. "
Airtel : Airtel Payments Bank Limited ("Airtel Bank"), a subsidiary of Bharti Airtel Limited ("Airtel"), said that it has rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank becomes the first payments bank in the country to go LIVE. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Bank will commence the pilotwith banking points at 10,000 Airtel retail outlets. A wide network of merchants (sellers/shops) across Rajasthan will accept digital payments from Airtel Bank from day one, offering customersthe convenience of cashless purchase of goods and servicesvia their mobile phones in a quick and secure manner. Airtel Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem.
Airtel Bank is a fully digital and paperless bank. Airtel Banking points will offer bank account opening services and cash deposit & withdrawal facilities.
Smt. Vasundhara Raje, CM of Rajasthan, tweeted, "Congratulations to Airtel for making Rajasthan the first state in India to have Airtel Payments Bank. This initiative, perfectly in sync with Hon'ble Prime Minister's vision for financial inclusion and Digital India, will be a boon to residents in far flung areas who are yet to have access to formal banking. I look forward to Airtel reaching every corner of Rajasthan."
Shashi Arora, MD & CEO, Airtel Payments Bank, said, "Airtel Payments Bank is fully committed to the Government's vision of financial inclusion and banking for all. Airtel Payments Bank will play an important role in taking banking services to the last mile in a quick and efficient manner and benefit millions of unbanked citizens of this country. With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India. We would also like to use feedback from our customers to further improve our processes and look forward to serving them."Airtel Bank's product portfolio includes payment banking services and semi-closed mobile wallet services (Airtel Money).
