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Saturday, October 26, 2013

Tatas to roll out 15,000 ATMs in 3 years

Tata Communications Payment Solutions Ltd plans to roll out 15,000 Indicash white-label ATMs across the country over the next three years. Of these, 100 will be operationalised in Kerala by the end of this year.

This is in keeping with the RBI’s vision to accelerate growth and improve ATM penetration across the country, Sanjeev Patel, CEO, TCPSL said.

There is a huge scope for opening more ATMs in Kerala, he said, as 74 per cent households in the State have access to banking services, compared with the national average of 58 per cent.

TCPSL, which rolled out its first WLA in Thane in June, has 350 units now in place. The objective is to make ATM services available across urban, semi-urban and rural locations that have negligible or minimal banking infrastructure, he said.

The company has a cash supply arrangement with Federal Bank. Discussions are on with other banks for similar tie-ups to extend the service to other parts.

Source: thehindubusinessline


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