One lakh plus ATMs in India, more to be added

Posted By:
Subscribe to GoodReturns

One lakh plus ATMs in India, more to be added
National Payments Corporation of India (NPCI) which is an umbrella organisation for retail payments in India, said that banking system in India has reached a landmark of one lakh ATMs in the Country.

Almost all the ATMs in the country are part of NPCI's National Financial Switch (NFS) network which facilitates routing of ATM transactions through inter-connectivity between the Bank's systems, thereby enabling the ATM/debit cardholders of the country to utilize the services in any ATM of a connected bank.

As per the latest data released, as of October, 2012 the total number of ATMs was about 1,04,500 in the country. Public sector Banks and State Bank group with about 61,500 ATMs accounted for 59% of the ATMs. The private sector and foreign banks put together have about 41,800 ATMs accounting for 40% of the ATMs and the balance 1% representing about 1150 ATMs are deployed by co-operative banks/RRBs, etc.

There are also plans to increase the VAS such as Card-to-Card Transfer, Cheque Book Request, Statement Request, etc. through the ATMs.

All the banks put together have plans to install additionally about one lakh ATMs over a period of next two years raising the number of ATMs per million population from 85 to about 170 ATMs.

Read more about: atm, banks
Story first published: Wednesday, November 14, 2012, 9:47 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'