ATMs slide into the shadows as digital transactions take centerstage

With the Covid-induced surge in UPI transactions now firmly here to stay, banks are rethinking their strategies - and costs - on ATMs, especially for off-site machines

Ram Sewak, a 42-year-old sugarcane farmer in western Uttar Pradesh, recently faced an all-too-familiar situation. In need of cash to pay his labourers, he visited two local automated teller machines (ATM), only to find one without cash and the other out of service. Ultimately, he had to travel to the nearest city to make his withdrawal. “Though I use UPI for most things, I still need cash for labour payments. In recent days, it’s become harder to find ATMs that work properly,” he said, reflecting a growing issue in India’s semi-urban and rural belts.

 

This ground reality was evident during