Finance Desk – Recently, banks in India have reported a issue of shortage of automated teller machines (ATMs) across the country to the government and the Reserve Bank of India (RBI).
Senior bankers expressed concerns about the ability of ATM vendors to meet demand. A reason behind this shortfall might be because of ‘Make in India’ initiative launched in financial year 2020, which encouraged the production of goods within the country. However, setting up operations in India took longer than expected, which has led to the current shortage.
Another issue is the registration of ATM vendors on the government’s e-marketplace. Some vendors are not yet registered, creating confusion and delays for banks wanting to procure new ATMs.
Moreover, banks are transitioning ATMs to include lockable cassette mechanisms—a security enhancement meant to be rolled out gradually. Unfortunately, due to the current ATM shortage, banks are struggling to meet their targets.
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