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Almost 50 percent ATMs in India might shut down by March next year: Report

By Team Pardaphash 
Updated Date

Mumbai: The Confederation of ATM Industry (CATMi) warned that approximately 50 per cent of the Automated Teller Machines (ATMs) may be shut down by March 2019 due to unavailability of operations, hitting hard both urban and rural population.

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Currently, India has approximately 2,38,000 ATMs, of which around 1,13,000 ATMs including 1,00,000 off-site and more than 15,000 white label ATMs are expected to down their shutters, said a CATMi spokesperson.

“This would severely impact millions of beneficiaries under the Pradhan Mantri Jan Dhan Yojana who withdraw subsidies in the form of cash through ATMs, besides urban centres, resulting in snaky queues and chaos akin to post-demonetisation,” said the spokesperson.

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