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Hinterlands cry for ATMs

Hinterlands cry for ATMs

With ATM density on average at 1 machine for every 5,500 citizens, it translates into a machine every 60 km, while in Canada it is one every 545 citizens. Industry data, shows there is just 1 ATM for every 9,174 residents residents in rural areas, while there is 1 ATM for every 1,512 residents in India’s metros. “Villagers also have to contend with the scarcity of bank branches. Only public-sector banks like State Bank of India have sizeable presence in rural areas, but private banks are mostly urban-centric,” said Loney Antony, managing director, Hitachi Payment Services Pvt. Ltd.

Read the full story at https://timesofindia.indiatimes.com/business/india-business/hinterlands-cry-for-atms/articleshow/63494764.cms

SOURCE: Times of India




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