India to See More ATMs in Next 6-12 Months

The Secretary of Financial services said that India will have more number of ATMs (Automated Teller Machines) in the next 6-12 months. About 60,000 to 80,000 more ATMs are to be launched next year. Every branch of every bank in India will have an ATM installed in its premises.

This measure has been already started in Maharashtra and next year, we can see an ATM network revolution across India. Currently, there are 90,000 ATMs in India. The Reserve Bank of India (RBI) has also allowed non-banks to set up, own and operate ATMs to encourage expansion of the network throughout the country. These ATMs will be White Label ATMs and would provide services to customers of various banks and non-bank entities in India.

Earlier, only public and private sector banks were allowed to set up ATMs in India.