For example, ICICI has partnered with the Indian Institute of
Technology, Chennai, to develop a new electromechanical ATM
machine customized to the rural Indian environment at a much
lower price point. The climate in many parts of India makes the
currency notes soggy with moisture and soiled with rough usage.
Hence, the traditional ATM technology used in the West or
in cities may not be suitable, since the makers of those ATMs ex-
pect cleaner currency notes. The new ATM from ICICI is being
designed to deliver currency notes to consumers in collated bun-
dles of cash similar to the way in which soda vending machines
work.
Customized ATMs for rural markets, ...