Demonetization is throwing up opportunities which were never dreamed in the past. As the nation transforms slowly but painfully into a cashless and digital economy, enterprises have been quick to make some profit under these circumstances. Taxi aggregator Ola and Yes Bank have joined to provide mobile solutions where cabs will bring cash at your doorsteps through micro ATM’s powered by the bank.

Yes Bank Senior President & Country Head, Rajat Mehta described the venture in partnership with Ola as a part of its commitment to provide optimum services to its customers as possible. The process is in a very advanced stage and will start in the coming ten days.

The scheme envisages allowing customers to withdraw Rs. 2000 per card from PoS terminals from Ola cabs located near any Yes Bank Branch across 30 locations in 10 cities regardless of which bank the consumer has an account. Till now the customer came to the Ola Cab, but now the Cab will come to the customers. The aim of the new scheme is to help users from wasting their time standing in long queues outside ATM’s.

Yes Bank wants to maximize its connection with the general public and intends to provide as many outlets as possible for the public. Stationary cabs will be stationed near Yes Bank branches and ATM’s as well as high footfall areas and provide service to the public. The cabs will also move a little bit here and there during the day. Rajat Mehta was also quick to add that no money will be charged by Ola cab for dispensing the money and it is more of a service gesture than a commercial strategy.

Well, it is not a business policy, but the recent demonetization move by the central government has indeed given a fillip to the digital transaction and also a big boost to online credit providers like PayTM and Jio Money. What these companies had been trying to explain to a reluctant Indian consumer has now been well understood and also readily accepted.