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Dysfunctional ATMs: Parliament Panel Nudges RBI to Fix Problem

[New Delhi]Dysfunctional ATMs: Parliament Panel Nudges RBI to Fix Problem
A parliamentary panel has asked the Reserve Bank to address the problem of perpetually dysfunctional ATMs so as to avoid any situation of forced cash crunch.
The Standing Committee on Finance has also asked banks to install adequate number of ATMs. The panel tabled its report in Parliament last week.
As per a data of RBI, there were
2,21,492 Automated Teller Machines (ATMs) in the country as at September-end 2018.
These include
1,43,844 ATMs of public sector banks,
59,645 ATMs of private banks and
18,003 of foreign banks,
payments banks, small fiance banks and White Label ATMs (WLAs), which are owned and operated by non-bank entities.
The panel headed by senior Congress leader M Veerappa Moily also noted that RBI’s remonetisation drive has not augmented/resolved the cash supply to ATMs in rural/semi-urban areas, forcing shutdown of many ATMs.
File Photo