Dwindling business model: Can ATM industry continue in its present avatar?

ATM deployment has crossed 250,000 units, after hovering between 225,000 and 235,500 for almost five years

It may soon take a bit longer to find an automated teller machine (ATM) near you. The reason: From October 1, banks will be slapped with a fine of Rs 10,000 every time a till-box goes dry for over ten hours. And the business model is such that this could lead to a shuttering of scores of ATMs.

Says Navroze Dastur, managing director of NCR Corporation (India): “The business is already bleeding due to the higher cost on account of meeting regulatory guidelines on security. The penalty of Rs 10,000 per day amounts to nearly 30 per cent of monthly