Need for ATM will not become less
Posted on: 10/Sep/2016 3:38:18 PM
Automated teller machine (ATM) manufacturer NCR Corporation managing director Navroze Dastur said: Though the banking technology like e banking and mobile banking has advanced, the need for ATM will not become less. When compared to international countries, there are lesser ATMs in India. In India there are only 120 ATMs for 10 lakh people while in China there is 350 ATMs for 10 Lakh people.
In America, there are 1500 ATMs. There are numerous ATMs where electronic transactions are being done but in India it is very less. Savings accounts are now being opened under Jan-Dhan Yojana scheme. Many of the subsidies are being credited into the savings bank account but the ATM has not reached the last man. Rs 65 are incurred by a bank when customer comes to a bank for service whereas only Rs 20 is incurred if the customer goes to ATM. It is true that digital transactions are growing in India but the whole country is not digitalized. 95 percent transactions are taking place in cash.
