{"id":35795,"date":"2018-11-01T11:49:51","date_gmt":"2018-11-01T06:19:51","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=35795"},"modified":"2018-11-01T11:49:51","modified_gmt":"2018-11-01T06:19:51","slug":"atm-expansion-slows-due-to-note-ban","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/atm-expansion-slows-due-to-note-ban\/","title":{"rendered":"ATM expansion slows due to note ban:"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/atm-expansion-slows-due-to-note-ban\/article19441314.ece\"><span style=\"font-weight: 400;\">ATM expansion slows due to note ban<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A combination of factor, including demonetization of high values notes, have led to commercial banks cutting down on the number of automated teller machines (ATMs), particularly those not located in branches(off-site ATMs), latest RBI data showed.<\/span><\/p>\n<p><b>Introduction:<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">According to Reserve Bank of India (RBI), there were 98,092 off-site ATMs in June 2017 against 99,989 in the same month last year.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> On site (located within a branch) ATMs rose to 110,385 from 101,346 in the same period.<\/span><\/li>\n<\/ul>\n<p><b>Demonetisation:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to bankers, cash crunch due to demonetization, was one of the factors that impacted ATM expansion.<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The number of ATMs added between June 2016 and June 2017 was a little more than 7,000 while in the comparable period of the previous year, banks had added almost 16,000 ATMs and more than 18,500 in the year before.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The total number of ATMs in the country in June 2017 was 2, 08,477 as compared with 2,01,335 a \u00a0year ago.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Large retail-focused banks like ICICI Bank and HDFC Bank\u2019s off-site ATM numbers show a declining trend over the past one year.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The overall ATM number at June end was also lower than in the same month of the previous year.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> However, SBI\u2019s ATM numbers saw a sharp increase as it merged five of its associate banks and Bharatiya Mahila Bank on April 1, 2017.<\/span><\/li>\n<\/ul>\n<p><b>Low footfalls<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The government\u2019s push for digital transactions discouraging the use of cash is also having an impact, with banks going slow on ATM expansion, bankers pointed out.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">ATMs with low footfalls are being relocated. Some of these ATMs which were on-site, were installed following directions issued by the Finance Ministry during previous government regime.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">There is some amount of slowdown presently due to the availability of cash, which was s outcome of demoentisaton.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> NCR deploys almost 50% of the ATMs in the country.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>ATM expansion slows due to note ban: Context: A combination of factor, including demonetization of high values notes, have led to commercial banks cutting down on the number of automated teller machines (ATMs), particularly those not located in branches(off-site ATMs), latest RBI data showed. Introduction: According to Reserve Bank of India (RBI), there were 98,092&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/atm-expansion-slows-due-to-note-ban\/\">Continue reading <span class=\"screen-reader-text\">ATM expansion slows due to note ban:<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-35795","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704778004},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=35795"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35795\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=35795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=35795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=35795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}