ATM shortage in India Banks are complaining to reserve bank and government

Reserve Bank of India: There is a shortage of ATMs in the country. All the banks are worried about this. Banks have asked the Reserve Bank of India (RBI)Reserve Bank of India) and the Central Government (Government of India). Banks say that they are facing great difficulties in acquiring these machines.

Government should clarify the rules for purchasing from e-market place

According to the Economic Times report, all banks have demanded the government to clarify the rules for purchasing from e-marketplace. Quoting sources, this report claims that in the meeting held last month, representatives of big banks said that many issues were discussed. During this time, the issue of shortage of ATMs was also raised..ATM vendors do not have the production capacity to meet our needs.

Banks are blaming Make in India guidelines

According to the report, ATM vendors are blaming the Make in India guidelines implemented in FY 2020 for this shortage. Due to these, it took a long time for the vendors to start their operations in India. Many ATM vendors are not even registered in India. Therefore, banks want the purchase rules to be clarified by the government so that no regulatory action is taken against them in future. Banks want that if all the guidelines are followed then they should be allowed to issue independent proposal for ATM.

There will be a tremendous increase in the demand for ATM machines

At present, banks are going to implement lockable cassette system in ATMs. But, bankers have said that due to the shortage of ATMs, their business is being adversely affected. According to bank officials, this change was to be done in several stages. But, we are far behind the target. Due to this, regulatory action can be taken along with imposing a fine on us. On the other hand, CMS Info Systems President Manjunath Rao said that apart from ATMs, banks are also installing cash recycling machines. Due to this, demand is expected to increase on the GeM portal.


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