A report released by the Reserve Bank of India claimed that the country has fewer ATMs in 2019 than in 2017. The study report released by the apex bank reveals that the number of ATM’s in the country has declined.
In 2017 end, India had 2,22,300 ATMs. But on March 31,2019 the country had only 2,21,703 ATMs. That a decrease of 597 ATMs. The reoprt also revealed that India is next only to China in terms of the number of ATMs deployed. India recored a strong compound annual growth rate of 14% in the period between 2012 and 2017.
The study titled “Benchmarking India’s Payment Systems”, also holds that India has one of the lowest ratios of ATM cash withdrawal relative to cash in circulation.
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