Half of the ATMs to shut down in India

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Neighbourhood News Desk/ Garima Kotroo: The regulatory changes in the country lead to the closure of 50% ATMs by March 2019. These changes will make the ATM process unviable, resulting in the closure.

The Confederation of ATM Industry (CATMi) said “Service providers may be forced to close down almost 1.13 lakh ATMs across the country by March 2019. These numbers include approximately one lakh off-site ATMs and a little over 15,000 white label ATMs,”

The shut down of ATMs will adversely impact thousands of jobs along with the financial inclusion efforts of the government.


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