You are here: Home » Finance » News » Banks
Business Standard

Number of ATMs declined marginally to 200,070 in FY18: RBI report

However, private sector banks installed more ATMs taking their total number to 60,145 in FY18, up from 58,833 in the previous fiscal year, the report said

Press Trust of India  |  Mumbai 

Photo: istock
Representative Image

The number of has declined marginally to 200,700 in FY18 from 200,800 in FY17, primarily due to branch rationalisation by a few public sector banks, the Reserve said in its annual report Friday.

Similarly, the number of operational on-site too came down to 100,600 during the year from 100,090 in FY17, while that of off-site increased to 100,000 from 98,545.

"In FY18, the number of ATMs of state-run declined to 1.45 lakh from 1.48 lakh in FY17," the RBI said in the 'Trends & Progress of Banking in 2017-18' report.

However, installed more ATMs taking their total number to 60,145 in FY18, up from 58,833 in the previous fiscal year, the central report said.

The report said during the period between April 2018 and August 2018, the number of ATMs (excluding that of small and payment banks) declined further to 200,040, which it attributed to the increasing use of electronic means of payments.

During the same period, robust growth was observed in deployment of points-of-sale (PoS) terminals across the country, the report added.

The growth of white-label ATMs has also tapered off in recent years, although the number of such ATMs crossed 15,000 -mark in FY18.

Pre-paid payment instruments maintained robust growth in terms of volume and value, despite deceleration from the demonetisation-induced spurt.

"Transactions through Pre-paid payment instruments, which stood at a low Rs 81 billion in 2013-14, jumped manifold in subsequent years to reach Rs 1.42 trillion in FY18," the report said.

During FY18, 915 million transactions worth Rs 1.09 trillion were routed through the unified payments interface (UPI) which rose to 1.579 billion in volume worth Rs 2.67 trillion in the first half of FY19, it said.

First Published: Fri, December 28 2018. 17:30 IST
RECOMMENDED FOR YOU