Low ATM penetration plagues India

Rural areas remain under served.

Rural areas accounted for only 10% of the total number of ATMs deployed in India during fiscal year 2013. Banking industry sources said this was due to challenges such as the high cost of setting up bank branches and low transaction.

They noted, however, that an expansion of multi-vendor ATMs and solar powered ATMs in semi-urban and rural areas will lead to further development of ATM industry in the country.

According to the research report, India ATM Industry Outlook to 2018-Increasing Penetration of White Label ATMs to Intensify Growth, there is a rising trend of outsourced ATMs in India. It said banks are gradually expected to reduce their ATM operations and are anticipated to emphasize on their core business.

Analysts said the ATM industry in India is projected to grow at a CAGR of 19.1% over the period FY’2014-FY’2018. The expansion of multivendor ATM’s, an increase in the number of solar-powered ATMs, especially in semi-urban and rural areas, and the emerging trend of White-label ATM’s will aid the future growth of the industry.

Also Read

Standard Chartered launches digital request quote module Autoquote

Citi launches Token Services for Cash for institutional clients

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit