All ATM will be shut down by march 2019

My Times Today.

Approximately 50% of the Automated Teller Machines (ATMs) may be shut down by March 2019 due to unviability of operations, hitting hard both urban and rural population, and dealing a blow to the digitization policy, the Confederation of ATM Industry (CATMi) warned on Wednesday.

Currently, India has approximately 238,000 ATMs installed, of which around 113,000 ATMs, including 100,000 off-site and more than 15,000 white label ATMs, are expected to down shutters, said CATMi Director V Balasubramanian.

“This would severely impact millions of beneficiaries under the Pradhan Mantri Jan Dhan Yojana who withdraw subsidies in form of cash through ATMs, besides urban centres, resulting in snaky queues and chaos akin to post-demonetisation,” Balasubramanian told IANS.

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