Banks to hire vendors to run ATMs

To do away with regular complaints about non-delivery of cash from ATMs (automated teller machines), India’s central bank, the Reserve Bank of India, has reportedly asked all bankers to discontinue setting up their own ATMs.

By next month bankers will hire vendors to set up ATMs and run them on fee basis. “From next month onwards we will not set up our own ATMs. At present, vendors only maintain ATMs and they take time to respond to bank calls. It creates trouble to customers. Now, the vendors will not only run and maintain the machines but also install and maintain them. They will receive payments against per successful transaction,” a senior banker told Business Standard.