Press Releases
Updates, press releases and industry news on Muthoot ATM expansions, milestones and campaigns.
Muthoot Finance Ltd., a division of The Muthoot Group, launched its first ever white label ATM as a landmark development for financial inclusion and financial services in India. Federal Bank is the sponsor bank for the venture and FIS Payment Solutions & Services India is the technical partner.
The first Muthoot ATM was launched on March 6th, 2014, at Hotel Le Meridian in Maradu, Kochi, marking Muthoot Finance's entry into White Label ATM services in India.
Muthoot Finance obtained the RBI's licence to set up White Label ATMs, and the company aims to deploy 9000 ATMs across India, with 65% of the planned ATMs targeted at semi-urban and rural areas.
In June 2014, Muthoot Finance launched its 37th ATM in Bangalore and aimed to open 100 ATMs in Karnataka by the end of 2014.
On October 18th, 2014, Muthoot Finance announced the winner of the 'Muthoot ATM Transact & Win Contest' as Mr. Jamal from Mahi Kaffe, Kottayam.
On March 6th, 2014, Muthoot Finance launched its first Smart ATM in Kochi at Hotel Le Meridian, Maradu.
Muthoot ATM aims to deploy 9000 ATMs throughout India, reaching every city, town and village, with 65% of the planned ATMs in semi-urban and rural areas.
Federal Bank is the sponsor bank for the white label ATM venture, with FIS Payment Solutions & Services India as the technical partner.
| Date | Milestone |
|---|---|
| March 6th, 2014 | First Muthoot ATM launched at Hotel Le Meridian, Maradu, Kochi |
| June 2014 | 37th ATM opened in Bangalore; target of 100 ATMs in Karnataka by end of 2014 |
| October 18th, 2014 | Winner of the 'Muthoot ATM Transact & Win Contest' announced: Mr. Jamal, Mahi Kaffe, Kottayam |
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Muthoot ATM has grown into one of the largest independent ATM networks in India, with a wide presence spanning metro locations as well as tier-two and tier-three towns and villages. The network is built around the belief that access to basic cash services should not depend on where a person lives or works. By placing machines in easily accessible, high-footfall locations, the brand aims to bring secure withdrawal, balance enquiry, and other essential banking facilities within reach of everyday customers.
The company's white label ATM model marked an important milestone in the company's history, allowing partner banks to deploy Muthoot's infrastructure while extending their own services to a broader customer base. A sponsor bank provides the regulatory and banking backbone, while a technology partner supports the technical and payment processing layer. This structure enables faster rollout in new cities, better uptime for existing machines, and a consistent experience for cardholders across the country.
Beyond cash withdrawal and balance enquiry, Muthoot ATM services include mini statement requests, PIN change options, and other account servicing utilities that reduce the need for long queues at bank branches. Cards from a wide range of banks are accepted at these machines, and customers can register for loyalty and reward programmes that add value to their everyday usage. The aim is to make each visit productive, whether the customer is withdrawing cash or simply checking an account balance.
Safety and reliability remain central to the network's reputation. Machines are deployed with modern security features, biometric or card-based authentication, and clear customer notices guiding users through each transaction. A dedicated grievance and feedback process helps the company respond to reported issues, while regular press releases, industry updates, and company profiles share milestones such as new city launches, expansion plans, and campaigns aimed at promoting responsible ATM usage and financial inclusion.
Write to the Muthoot ATM team for details on services, locations and deployment enquiries.
