World’s Highest Motorable Village In HP Gets ATM Services

Spice Money, an Indian rural fintech firm on Wednesday said that it 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. 

The company added that it is trying to bridge ATM penetration across the hinterlands of India with one ATM per ten villages on average. 

Last year in May, Spice Money introduced Mini-ATM services in Chitkul, India’s last inhabited village in Himachal Pradesh.

The company converted one of the only two Kirana Stores in the village into a Spice Money ‘Digital Dukaan’ to offer cash-in cash-out services to the residents and tourists.

Sanjeev Kumar, Co-founder and CEO, Spice Money, said, “A majority of India’s villages still lack banking infrastructure and ATM network. At Spice Money, our mission is to empower the smallest towns and villages in the remotest corners of India and bring essential banking and financial services to their doorstep." 

He added that establishing a mini ATM service at Komic is a testimony to our dedication to solving the problem of access across the hinterlands of the country. We are thrilled to mark our presence at the world’s highest village and address the issues faced by residents and tourists through our digitally enabled platform.