Komic, the world's highest motorable village in Himachal Pradesh, now has access to ATM services
Chandigarh, (Gurpreet) : Spice Money, India’s leading rural fintech that is revolutionising the way Bharat banks, has provided much needed access to essential financial services for Komic, the world's highest motorable village in Himachal Pradesh, by introducing Spice Money Mini-ATM services. This major step takes Spice Money closer to its vision of driving financial inclusion for the last mile in the remotest corners of a vast country like India.
Popularly known as the highest village in the world, Komic is located in the beautiful Spiti Valley at an altitude of 15500 ft. with a total population of 114 people. Bounded by snowcapped mountains and majestic valleys, the village receives a regular inflow of tourists, both international and Indian. The lack of essential banking and financial services along with sparse internet connectivity stood as a major roadblock for the residents as well as tourists. In order to get access to cash and payment services, they had to travel 18 km away to the district headquarters, Kaza for the nearest ATM. This was not only a great inconvenience for the residents but also hampered the economic growth of the village. Spice Money addressed this problem by empowering a local kirana store owner to become a Spice Money Adhikari and open his Digital Dukaan at zero cost. This Digital Dukaan now will act as an AePS cash withdrawal, mini-ATM, bill payment and loan collection center. Sanjeev Kumar, Co-founder & CEO, Spice Money, said “A majority of India’s villages still lack banking infrastructure and ATM network.