After installing a covered structure with a solar panel as a smart street bench in its main office, the Coimbatore Corporation decided to make another 30 banks of this type. Family sources with development stated that the Company would install the banks in the rooms that are part of the Development Component based on the smart cities project area. The estimated cost of each bank was approximately ₹ 4 lakh.
The Company could enter into a model for the development of public-private partnerships, which means that companies that install smart banks could provide advertising space or choose other advertising mechanisms to recover the cost of installation. The company also offered businesses / entrepreneurs the freedom to modify the design of banks. They do not need to be a replica of the Company’s main office.
However, the Corporation had requested the solicitation of proposals for 10 such banks. The company had stated that the idea of a smart bank was to create a unique design that would provide solar power to power cell phones, Wi-Fi, LED lighting and devices that collect sensor data. The goal was to make the streets and public properties smarter and greener with the smart proposed bank.
However, Society sources said that the civic corps must first explain the purpose and benefit to the public of the main office’s smart bank. It should provide details like how many people had used the facility, charged their phone and had written comments. They added that the Corporation should not rush to establish more banks.