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New Rules May Force 50% of ATMs to Shut Down Across the Country
November 24, 2018
The Confederation of ATM Industry (CATMi) has warned that the low interchange fee of ₹15 per transaction and new compliance costs may lead to the shutting down of as many as 100,000 off-site and 15,000 white-label automated teller machines (ATMs) across the country. At present, there are 238,000 ATMs in the country.
Industry experts believe that the additional costs on ATMs can also disrupt the Pradhan Mantri Jan Dhan Yojana that allows beneficiaries to withdraw their subsidies through ATMs.
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