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Demonetization impact: Private banks join hands with OYO to rent their shuttered ATMs

17, Dec 2016 By manithan

Mumbai: OYO Rooms which specializes in booking hotel and lodge rooms has got a massive support from an unexpected sector.

Closing ATMs under demonetization has helped Startup India initiative', remarked another startup dealing with lodging facilities
Closing ATMs under demonetization has helped Startup India initiative’, remarked another startup dealing with lodging facilities

Speaking exclusively to Faking News, a top marketing person from the startup said, “We usually bring in hotels and lodges and PGs into our network. But, ever since November 9, we have been getting request from a totally unrelated sector.”

As per the marketing team of OYO, private banks have started to rent their closed ATMs via OYO Rooms. “After PM Modi announced demonetization, private banks like HDFC, Axis and ICICI stopped operating their ATMs in most parts of the country. Angry citizens were enraged by shuttered down ATMs of these private bank players, while government banks were working around the clock to provide necessary and limited money to customers. Apathetic to emotions of Indians, these private banks have decided to put their ever closed ATMs into new use. And that is where, our room service comes into play.”

A top official with a large private bank, spoke to us, on conditions of anonymity, “Whatever you heard is true. We were unable to fill the ATMs. Mind you, those ATM spaces are rented by us and we have to pay rent without getting charges from customers operating ATMs. It as at this juncture, our bosses decided to rent those spaces and manage our income. We have already provided the key along with location of ATMs to OYO team. They will be soon rolling out an updated app with ATMs of private banks near your place. If you want to check-in, you can opt for it and you will be given constant AC.”

When asked about the presence of CCTV inside ATMs, OYO marketing team person added, “Most of the CCTVs in our ATMs don’t work. Even then, we have made sure to turn it off before renting it to any person. Bad thing is that, we cannot provide beds or toilet facilities inside ATM. But, there will be a 24/7 security available, who would be sleeping most of the time. So, no intrusion into your privacy too.”