A robot wearing a saree received an Indian bank's loan sanction letter

Mimansa Verma

9 September 2022 at 3:50 am·2-min read

In India, receiving a loan sanction from any bank is often a moment of relief and joy for the applicant. On Sept. 07, it was Kochi-based Asimov Robotics’ turn.

“It is such a great privilege to receive the financial assistance...on behalf of Asimov Robotics. With this, Federal Bank has proven once again that it will be there always to support indigenous technology development,” the company’s representative told a handful of bank officials in Kochi moments before being handed the loan sanction letter.

Clad in a traditional saree, the representative wished everyone a “happy Onam.” She egregiously mispronounced the name of the harvest festival that the southern Indian state of Kerala, where Kochi is located, was to celebrate the next day.

Her “Onam” didn’t fluster anyone, for that couldn’t be weirder than her being a robot.

Asimov Robotics gets backing from Federal Bank

Robotics is witnessing a boom in India and firms in the field have been on a funding spree.

Asimov Robotics used its advanced robot SAYABOT to make its point, CNBC reported.

.@CNBCTV18Live @FederalBankLtd, Cochin Branch had sanctioned loan to a robots mfg. co. The co personnel brought robot to the Bank to receive the loan sanction letter. pic.twitter.com/Dim0BhDPvE
— Abhishek Kothari 🇮🇳 (@kothariabhishek) September 7, 2022

The humanoid can be customised to perform tasks in various sectors such as hospitality, security, retail, healthcare, education, and banking.

The loan sanctioned on Sept. 07 was aimed at the healthcare industry, where SAYABOT can offer services like contactless dispensing, monitoring of vitals, post-surgery care, sending out alerts, and surveillance, among others.

Kochi-based Federal Bank itself has been looking to adopt technology rapidly.

“Over 230+ RPAs (robotic process automation) and 300+ APIs are helping us both increase productivity and engage meaningfully with a range of Fintech Partnerships,” said Shyam Srinivasan, the bank’s managing director and CEO.

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Asimov Robotics gets backing from Federal Bank

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