Cost-cutting measures: Banks close 2,000 ATMs in 10 months

Cost-cutting measures by banks, which has led to rationalisation of branches has been one of the key reasons for reduction in the number of ATMs

In close to 10 months, between May 2017 and February 2018, 2,000 onsite ATMs of banks were close. As on May 2017, the total number of onsite ATMs of banks was close to 110,116, which came down to 107,630 as on February 2018, or a reduction of 2,486 ATMs, according to data from the Reserve Bank of India (RBI). However, the number of offsite ATMs saw a marginal increase, led by the State Bank of India (SBI).

Cost-cutting measures by banks, which has led to rationalisation of branches has been one of the key reasons for reduction in the number