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Customers Forced to Use Third-Party ATMs as Banks Install Few machines

August 22, 2017

Customers Forced to Use Third-Party ATMs as Banks Install Few machines

Although there is no decline in the issuance of ATM/debit cards, banks have gone slow on the installation of the Automated Teller Machines (ATMs), thus forcing their customers to use the ATMs of other banks.

According to the data provided by the National Payments Corporation (NPCI) and the Reserve Bank of India, the decline in the installation of new ATM machines picked up pace six months ago, i.e. shortly after the demonetization. Today, about 55% of the ATM users have to use other banks’ ATMs. Before demonetization, this figure stood at 40%.

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