The First Floating ATM in Kerala
For the country's first ever floating ATM, the commissioning of three bridges linking the islands in the Errnakulam backwaters with the mainland late last year has turned out to be a setback. Very first time floating ATM, launched by The State Bank of India. On February 10, year, 2004, on owned by the Kerala State Inland Navigation Corporation at the city's busiest ferry, it was found to be a viable proposition as the vessel used to carry around 5,000 passengers everyday from Errnakulam to the Vaapam Islands in 30 trips. But the situation has changed after the Go Shee bridges were opened to road traffic. The number of passengers and vehicles using the ferry has dropped substantially, forcing the Kerala State Inland Navigation Corporation to move the Jargan to other locations to make its ferry operations viable. Accordingly the sources has been applied by S.B.I , In the year of 2004 S.B.I launched floating ATM and now around 75 transactions did every day as data said. But After the bridges opened to traffic, the transactions goes drop down to below 50. Now,the Kerala State Inland Navigation Corporation has proposed to ply the Jargan with the ATM from Fort Koochi to some other directed destinations and the bank has, in principle, agreed to the proposal, the sources told . The bank had invested about Rs 6Lakhs to set up the ATM. The cost of maintenance, electricity etc, are also borne by the bank, while the Kerala State Inland Navigation Corporation does not charge anything for carrying the ATM. However, bank sources anticipate that there will be more users of the ATM as the tourists cruising in the backwaters using the Kerala State Inland Navigation Corporation vessels available themselves of this facility. The ATM was supplied by N.C.R Corporation. The connectivity has been provided by Reliance Info comm. uses C.D.M.A technology. Yes, The State Bank of India is well established & launch the world's first floating ATM on boat .S.B.I officially said that the floating ATM will take banking to the people, especially for the tourists, The ATM has already been fitted on a ferry and is undergoing trial runs. The code division multiple access (C.D.M.A) technology is used for keeping it up & operation process of working. The floating boat with the ATM on board will berth at jetties in Kerala's huge backwaters through which hundreds of thousands of people travel daily. The floating ATM will touch the boundary of hotels, resorts, places of worship along with the waterfronts. The officers said that, this is for the first time in the world, a commercial bank is opening a stand-alone floating ATM. At present time the floating ATM is operational on board the Queen Mary II, the world's largest passenger cruiser; but that is along with a bank branch aboard.Officials like Raja Gopal, see the tremendous potential for the floating ATM . This ATM in a state like Kerala, which has large backwater stretch of nearly 1,900 kilometers."We are taking banking for the peoples suitability& The ATM on a boat is another value-added service from the S.B.I," This is said by the Raja Gopal in his speech.S.B.I ,India`s largest &oldest commercial banking services in terms of profits, assets, deposits, branches and employees. The S.B.I bank has 1,138 A.T.Ms across the country.Apart from having a nationwide presence, S.B.I has its arms spread all over the country through its associates. These are 7 in numbers.
1. State Bank of Patiala
2. State Bank of Bikaner and Jaipur
3. State Bank of Indore
4. State Bank of Soorashtria
5. State Bank of Mysore
6. State Bank of Hyderabad
7. State Bank of Travaancore.
S.B.I officially disclosed, the idea of a floating ATM in Kerala came up because of peoples suitability or a thoughts , there are more than thousands peoples presents who travel to boat daily. May be they does not money to spend means others country`s peoples come in India to travel for that suitability this is needed. Moreover, several hotels, resorts and places of worship such as churches, mosques and temples are located on waterfronts across Kerala too. Since festivities at these places of worship attract a large number of people, officials believe a floating ATM will gains good business as well. Kerala's backwaters act as vital waterways for the transport of people and goods. S.B.I officers said that the backwater traffic is a good market to tap with the floating ATM.S.B.I officers are confident that the floating ATM will be of immense help to the hundreds of tourists who come in flock to travel Kerala mostly .Almost, 7 million tourists visited to Kerala last year. Tourism officers said, the whole the area of Kerala likes, hotels , resorts are full, with some of other has advance booked or condition is bookings closed for the next coming months.S.B.I's innovative floating ATM is certain to spur other banks in the state to launch similar facilities across the backwaters. When contacted, a senior Federal Bank official he said the bank would first study the backwater traffic before launching a floating ATM.