Debit cards and Jan-Dhan accounts grow 20%, ATMs flat since note ban

PMJDY accounts and debit cards grew 26 per cent and 24 per cent, respectively, while ATMs grew less than 1 per cent

The number of ATMs in India has remained flat and banking outlets in villages have fallen even as millions of bank accounts have been created through the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and debit card issues have multiplied after demonetisation.

The ATM industry on Wednesday warned that half of India’s ATMs, especially in rural areas, will soon face closure, adding to the dismal penetration of ATMs in the country. According to industry estimates, there are 18 ATMs for every 100,000 people in India against 173 and 63 in the US and China, respectively.

Under the PMJDY, 37 million beneficiaries were