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India will have another 60,000-80,000 automated teller machines (ATMs) in the next 6-12 months, Mr D. K. Mittal, Financial Services Secretary, said.
This means every branch of every bank which is into core banking solutions will have an automated teller machine (ATM) installed in its premises, Mr Mittal said at an Assocham conference here on Thursday.
He said the rollout had already started in Maharashtra and in the next one year there will be an ATM network revolution in India.
Currently, there are over 90,000 ATMs in the country. To encourage expansion of the network, the Reserve Bank of India had in February this year allowed non-banks to set up, own and operate ATMs.
Such ATMs will be in the nature of white-label ATMs and would provide services to customers of all banks. Prior to this rule change, only banks were allowed to set up ATMs in India.
krsrivats@thehindu.co.in
This means every branch of every bank which is into core banking solutions will have an automated teller machine (ATM) installed in its premises, Mr Mittal said at an Assocham conference here on Thursday.
He said the rollout had already started in Maharashtra and in the next one year there will be an ATM network revolution in India.
Currently, there are over 90,000 ATMs in the country. To encourage expansion of the network, the Reserve Bank of India had in February this year allowed non-banks to set up, own and operate ATMs.
Such ATMs will be in the nature of white-label ATMs and would provide services to customers of all banks. Prior to this rule change, only banks were allowed to set up ATMs in India.
krsrivats@thehindu.co.in
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