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Integrating Unbanked Rural Populations through Frugal Innovation: A Case of Gramateller in India

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  • Prageetha G. Raju

Abstract

Vortex Engineering Private Limited is based at Chennai in Tamil Nadu state in southern part of India. This company came into news with its breakthrough innovation in manufacturing, selling, installing and servicing the world’s lowest power-consuming automated teller machines (ATMs), named, the Gramateller TM targeted at the semi-urban and rural segments of India. With a mission to help banks reach out gainfully to every nook and corner of the country, Vortex, after seven years of diligent research, has designed highly reliable, eco-friendly, easy to use and rugged ATM, which can save power up to 90 per cent and can be operated using solar power. The ATM hitherto was an unviable proposition in rural areas to any bank but Gramateller TM broke the stereotype with its low power-consuming ATM, which not only provided financial access to remote areas but also increased deposits in banks. The case presents a coherent depiction about the business, and growth of Gramateller, an innovation that is unique by virtue of its frugality, disruptivity and game-changing characteristics vis-à -vis its role in integrating isolated geographies. The facts are compiled from published sources.

Suggested Citation

  • Prageetha G. Raju, 2018. "Integrating Unbanked Rural Populations through Frugal Innovation: A Case of Gramateller in India," South Asian Journal of Business and Management Cases, , vol. 7(2), pages 79-92, December.
    • Handle: RePEc:sae:sajbmc:v:7:y:2018:i:2:p:79-92
    DOI: 10.1177/2277977918784137
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