Blockchain, page-26

A lot of silly confusion about closure of ATMs in India

ATMs in cities cost Indian Rupees , Rs 1 00 000 to Rs 1 30 000 per month to operate with 24 hours air conditioning, guards and very , very high montly rentals, also educated city guys use online transactions more and minimise ATMs cash transactions.

ATMs in semi urban areas and villages cost much less to run , atleast 50 percent less with no air conditioning mostly, all the local people use ATMs a lot for drawing and depositing cash.

ATM transactions will continue to increase in India on total country wide basis, no of city ATMs will slowly reduce but not too much, village & semi urban ATMs will keep increasing in number. The drop in ATM transactions after DeMonetisation was a temp blip , basically there was no cash in most ATMs for two months in Nov /Dec 2016 ,with big queues every where always.

This drop in ATM numbers is not a factor to worry atleast for next many years.