Banks shutter ATMs as cities go digital

[PRK]

Banks are reducing number of ATM's, increasing bank charges, raising minimum account balance to be maintained, reducing staff in banks.

All these moves are to reduce their operational costs but they don't pass on this benefit to customers.

1. SBI ATM reduction is more due to merger & restructuring. Rest have reduced just a few. The article is bogus.
2. Bank charges are not increasing, infact on most digital transactions charges have reduced. And higher charges are there only after a few free transactions, most people don't need the paid ones.
3. Minimum account balance was already there on savings account in all banks. Some public banks decided to waive it for few years to increase customers & now it is back. There are no frills accounts (basic) with most public banks where there is no minimum balance.
4. No bank has reduced staff. Hiring has been constant, but in cases it has been low/nil due to very high NPAs & bank can't afford any more staff. (RBI has put restrictions on some banks to not open branches, give loans more than x, etc). (PNB ATM reduction same reason)
Also, digitisation makes some work redundant.

A little knowledge + politics is a dangerous thing.

 

[Maveli]

A little knowledge + politics is a dangerous thing.

Exactly now a days most people are saying things based on their political affiliation.

They would simply criticise anything that the other parties do.I am saying this in general.Even most media's now a days are biased.

 

[Kiran Reddy]

1. SBI ATM reduction is more due to merger & restructuring. Rest have reduced just a few. The article is bogus.
2. Bank charges are not increasing, infact on most digital transactions charges have reduced. And higher charges are there only after a few free transactions, most people don't need the paid ones.
3. Minimum account balance was already there on savings account in all banks. Some public banks decided to waive it for few years to increase customers & now it is back. There are no frills accounts (basic) with most public banks where there is no minimum balance.
4. No bank has reduced staff. Hiring has been constant, but in cases it has been low/nil due to very high NPAs & bank can't afford any more staff. (RBI has put restrictions on some banks to not open branches, give loans more than x, etc). (PNB ATM reduction same reason)
Also, digitisation makes some work redundant.

A little knowledge + politics is a dangerous thing.

What I said may be true or not but it is what I felt after visiting few banks and seeing what my surrounding people have told.