In a historic move blending innovation with accessibility, the State Bank of India (SBI) launched the country’s first-ever floating ATM, bringing modern banking services to the waterways of Kerala.
Installed aboard the KSINC ferry “Jhankar”, which operates between Ernakulam and Vypeen Islands, the floating ATM marks a major step toward financial inclusion in regions accessible primarily by boat.
“This initiative reflects our commitment to serve even the remotest customer, no matter the terrain,” said an SBI spokesperson during the launch.
The ATM is fully functional and provides all standard banking services, including cash withdrawal, balance inquiries, and mini statements — available to passengers and local residents throughout the ferry’s daily operations.
With this pioneering project, SBI became the first bank in India to offer ATM services on water, setting a precedent for expanding digital banking infrastructure to challenging terrains across the country.
Local residents and ferry passengers welcomed the innovation, calling it a “lifesaver” for those needing quick access to cash without traveling into the mainland.
- Launched by: State Bank of India
- Location: Aboard ferry Jhankar, Kochi, Kerala
- Date: August 2004
- Purpose: To serve passengers and islanders with easy ATM access
- Significance: India’s first floating ATM, promoting banking inclusion
The floating ATM is now a symbol of progress and has inspired similar initiatives in other water-bound regions of India. As banking goes mobile — and now, maritime — the future of accessibility looks promising.
