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Friday, March 14, 2008

Grammteller- low cost rural ATM

This low cost ATM was developed at IIT Chennai by TeNet group of Prof Ashok Jhunjhunwala. It is low cost by design- this ATM plugs into a Kiosk PC connected to a bank server. Unlike PIN numbers for log in, customers finger prints are used. The mechanism was designed by Vortex , the licensee, promoted by innovator L.Kannan, who earlier developed low cost spinning equipment with support under TePP. For this no frills ATM, funding came from Aavishkaar. Initial testing was done by ICICI and now adopted by SBI.

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