Banks plan to ramp up penetration via ATMs, branches: CMS Info Systems CEO

'At sector level, large banks, both public-sector as well as private, need to increase their reach'

CMS Info Systems, which manages cash deployment at ATMs, hit the capital market in December last year. Rajiv Kaul, executive vice-president and chief executive officer of the company, says cash withdrawal from ATMs via UPI provides a good business opportunity because many Jan Dhan accounts do not have the debit card. Excerpts:

There are two main revenue streams of CMS Info Systems. One is cash management and other is managed services. Cash management contributes roughly 70 per cent of your revenues. You plan to double your revenues to Rs 2,500 crore by FY25. What will be the driver for this