Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments
4000 ATM Machines Closed in Last 1 Year
Cash Circulation in India is Still At All Time Record High of Over ₹34.70 Lakh Crore
India Has Only 15 ATMs For 1 Lakh People
Anonymous 1
Hey I am on Medial • 6m
Makes sense! UPI is so much more convenient than cash, especially with apps like PhonePe, Google Pay, and Paytm. ATMs are becoming obsolete, so it's logical for banks to reduce them
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M S Shaikh
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Phonepe was acquired by Flipkart in 2016.
Later
In Dec 2022, PhonePe separated from Flipkart, but both companies are still owned by Walmart.
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Paytm shareholders are ignoring this? 📛📛
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..
The thing is, NPCI (via Govt grants) compensates the banks to up keep the
Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments
4000 ATM Machines Closed in Last 1 Year
Cash Circulation in India is Still At All Time Record High of Over ₹34.70 Lakh Crore
India Has Only 15 ATMs For 1 Lakh People