Banks have added 2,796 ATMs in the first four months of FY23, against 1,486 in FY22 and 2,815 in FY21. The current fiscal is likely to see the highest number of ATMs added at over 50,000, going by the request for proposals floated by banks and those in the pipeline.
There is a need to expand the ATM network to meet the cash withdrawal requirements of Pradhan Mantri Jan Dhan Yojana beneficiaries and those receiving Direct Benefit Transfer under various government schemes.
As per the RBI data, banks had a network of 2,17,857 ATMs as of July-end 2022. The State Bank of India alone has floated RFP for the procurement of 6,750 ATMs with support services, which may be raised to 8,100.
There were 46.30 lakh Jan Dhan account holders with outstanding balances of Rs 1,72,848 crore as on August 17, 2022.
Discussion about this post