Cash recyclers to tango with bank branches: How does this help?

The ATM will emerge as a remittances channels, enabling cash drops by customers and cash-outs by recipients of direct benefit transfers

Almost 20 per cent of India’s installed automated teller machine (ATM) base of 250,000 is now accounted for by recyclers — devices which not only dispense cash, but also allow you to make deposits. 

In anticipation of demand, Diebold Nixdorf is to set up a facility to manufacture 18,000 machines (dispensers and recyclers) a year in Bengaluru. It has set the stage for ATMs to morph into “virtual branch networks”, and emerge as a remittances channel in its own right.
 

The game-changer was the Reserve Bank of India’s (RBI’s) and the National Payment Corporation of India’s (NPCI’s) move to allow interoperability