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Why ATM, when you can crypto!

The Reserve Bank of India's (RBI) data shows that the number of ATMs in 2017-18 was 2,22,066, marginally less than the previous year

Topics
Atms In India  |  Payment Systems  |  Reserve Bank Of India

Pranjal Sharma 

Pranjal Sharma

The world celebrated 50 years of the automated teller machine in 2017. In its 51st year, it is seems that ATMs are headed for extinction. In India the usage of ATMs is plateauing even as their number declines. The Reserve Bank of India’s (RBI) data shows that the number of ATMs in 2017-18 was 2,22,066, marginally less than the previous year.

This number slipped further to 2,11,255 ATMs in June 2018. The trend is clear, ATMs are in decline. While cash is still sloshing around the system, the options of extracting cash are reducing gradually. Banks have quietly begun to shrink their ...

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First Published: Wed, September 05 2018. 22:40 IST
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