No need to worry! Public Sector banks do not have any plan to shut down ATMs

New Delhi, December 15: Public Sector Banks (PSBs) do not have any plans to shut down their ATMs clarifies MoS for Finance Shiv Pratap Shukla. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of closing down by March next year due to regulatory compliance changes making the business unviable due to rising costs and dipping or stagnant revenues.

 

In Lok Sabha, Shukla said while answering a question that there are 2.21 lakh ATMs are deployed in the country as on September 30, as reported by the scheduled commercial banks, small finance banks, payment banks and white label ATM operators. He further said, mobile banking services and various digital modes of banking facilities are also available in the country.

Also, the govt has announced recapitalisation of Public Sector Banks (PSBs) to the tune of Rs. 2.11 lakh crore in October 2017, through infusion of capital by the Government and raising of capital by banks from the markets. Rs. 88,139 crore was infused by the Government in PSBs during financial year (FY) 2017-18 after the recapitalisation announcement and provision of Rs. 65,000 crore has been made in the budget for the current financial year for infusion.

Since the recapitalisation announcement till November 2018, PSBs have been recapitalised to the tune of Rs. 1,28,861 crore through infusion and mobilisation of capital from the market. Bank-wise details of capital infusion by the Government in FY 2017-18 and current FY 2018-19, up to 30.11.2018), are in the Annexure.