Morning Breaking: Half of India's ATMs may close down by March 2019, warns CATMi

Nearly half of the ATMs in India will be rendered commercially unviable because of onerous regulatory requirements, forcing a shutdown, and potentially leading to cash shortage and long queues, similar to the days following demonetisation in 2016. Recent regulatory guidelines for ATM hardware and software upgrades, cash management standards and cash loading methods will render almost 113,000 automated teller machines unviable, the Confederation of ATM Industry (CATMI) said in a statement.

Nov 22, 2018, 09:02 AM IST