Atms In India

Fewer ATMs, more UPI: India's banking sector shifts to digital payments

As digital payments and UPI gain popularity, Indian banks are cutting down on ATM expansion, especially in off-site locations, and focusing on digital infrastructure

Charge of the light brigade: Charting the rise of micro-ATM channel

The micro-ATM channel has held its own despite growth in digital payments and pricing not being raised

Banks struggle with ATM shortage as 'Make in India' policy disrupt supply

The initial cause of low number of ATMS across India is linked to the "Make in India" guidelines introduced in FY20, which required vendors to establish operations in India, leading to a delay

CMS Info Systems to bid for management contracts for 20,000 ATMs

In the managed services businesses, it has booked new orders of Rs 1,850 crore in FY24

More than 7 years after demonetisation, ATMs are back in spotlight

Demand for cash has increased as e-commerce, retail firms expand. Cash-on-delivery accounts for more than 60% of e-commerce payments

Cassette-swap: Mechanism to make ATMs better will miss deadline again

Cassette-swap is a lockable mechanism that does away with open cash replenishment. The upgrade is stuck over installation cost

AGS Transact Technologies receives an order for 1,350 ATMs from SBI

The company received the order under its banking automation solutions portfolio; SBI to deploy these "AGS" branded ATMs during FY24

UPI-based ATMs will not replace conventional ATMs; both will co-exist

An ATM solely dedicated to UPI-based cash withdrawals simplifies the machine's hardware components

Six years after demonetisation, deployment of ATMs set for biggest spike

ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently

RBI fines Vakrangee Rs 1.76 cr for violating order on ATM deployment goals

Central bank had first issued show-cause; latest action follows company's response to the notice

ATM dispenses fake Rs 200 currency notes in Uttar Pradesh's Amethi

Bank customers in Amethi were in for a major shock after an ATM started dispensing counterfeit currency, in Rs 200 denomination, on withdrawal

Airtel Payments Bank to install 150,000 micro ATMs this fiscal year

Airtel Payments Bank has started rolling out 1.5 lakh micro ATMS in a phased manner across tier 2 cities and semi-urban regions to facilitate cash withdrawal for its customers, the company said on Wednesday. The Bank will gradually expand its service to cover more banking points in a phased manner. "Micro ATMs will be rolled out in a phased manner. Initially, the bank will place 1,50,000 units in Tier II cities and semi-urban regions. These regions typically have a high demand for cash withdrawal services but limited access to ATMs," the company said in a statement. The bank will leverage its strong network of over 5 lakh banking points across India to give users access to easy cash withdrawals through this initiative, it added. The company has plans to finish the rollout of 1.5 lakh micro ATMs by the end of the current fiscal. Airtel Payments Bank is now integrated with the National Payments Corporation of India's (NPCI) - National Financial Switch (NFS) to facilitate micro ATM .

Card-less cash withdrawals at ATMs may burden banks with additional costs

Of the tad over 250,000 ATMs in India, nearly 35,000, or 14.58 per cent, are recyclers

CMS Info Systems logs 48% growth in December quarter net at Rs 60 cr

CMS Info is the country's largest cash management company based on number of ATM points and the number of retail pick-up points as well as one of the largest ATM cash management companies worldwide

Indian economy likely to remain cash-dependent for many years to come

After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows RBI data

ATM networks will have to be reinvented to face the onslaught of technology

Demonetisation provided the first serious wake-up call that cash will not be king for long, and the business of vending it will have to be reworked

Amid Covid, HDFC Bank deploys mobile ATMs across 50 cities in India

These ATMs have been deployed in various metros and non-metros in view of the restrictions imposed by Covid-19

CMS Info Systems plans to invest upto Rs 1,300 crore on ATM ramp-up

Rajiv Kaul, vice-chairman and wholetime director, CMS Info System, said that starting with a capital expenditure of Rs 180-200 crore, the company expects to create 2,000 jobs

Interchange of Rs 15 makes ATM channel unviable: NCR India's Navroze Dastur

NCR Corporation, the world's largest vendor of ATMs, has over 50 per cent share of the local market, but business could be better, says NAVROZE DASTUR

ATMs to become virtual bank branches, accept deposits with instant credit

Close to 14.6 per cent (or 35,000) of the 240,000 ATMs in India are new-age recyclers, even though they have been around for only 3 years on the local landscape.