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18% Foreign Bank ATMs Closed in 3 Years: Government
January 03, 2018
Foreign banks seem to be doing poorly in India as in the last 3 years about 18% of their ATMs have been shut. In addition to that, one of the foreign banks had to close all its banking operations across the nation.
The finance ministry said that during September 2014 and September 2017 the ATMs deployment by the foreign banks has reduced by 18%, mainly because of Standard Chartered Bank and HSBC Bank which closed 20% and 30% of their ATMs respectively. Other than these, the ending of banking operations by RBS Bank and closure of ATMs of FirstRand Bank have also largely contributed to the situation.
