Banks shutter ATMs as cities go digital

[Bapun]

Banks shutter ATMs as cities go digital, remove 358 over June-Aug

Decreasing ATM use in cities after demonetisation, and the increase in operational costs have forced banks to take a hard look at how they deploy ATMs. SBI, which has the largest ATM network in the country, reduced its ATM count from 59,291 in June this year to 59,200 in August, Punjab National Bank from 10,502 to 10,083, and HDFC Bank from 12,230 to 12,225.

Banks say rentals for a 7x5-sqft kiosk at airports and prime locations in Mumbai can go up to Rs 40,000 a month. Even in metros like Chennai and Bengaluru, ATM site rentals range from Rs 8,000 to Rs 15,000. Add to that the salaries of security staff and ATM operators, maintenance charges and electricity bills, and the total can range from Rs 30,000 to Rs 1 lakh a month. Electricity is a major expense as ATM kiosks have to be kept at 15-18 degrees centigrade through the day.

Banks shutter ATMs as cities go digital, remove 358 over June-Aug - ETtech

 

[Sai Jai]

 

[Ritesh]

This is bound to happen as in cities people prefer digital transactions more.
Every small shop is accepting digital payments. This is my personal experience in Delhi in past 20 odd days.

 

[Rishithulyan]

Its a kind of good news for the satellite tracking hobbyists. As the ATMs gets closed, only the electronic equipment (modem, LNB, BUC etc) are taken by the Bank or Telcom company. Usually the dish antenna is abandoned in the roof. And at cheap price, we gets to buy the antenna setup (reflector with whole stand) from the building owner.

Old ATMS used 6.5ft oval parabolic reflector dish, which are very useful for tracking out-of-footprint satellites. The ATMs which were installed in the last few years are having 4ft and 4.5ft dia dishes only. Still its good for use.

 

[Kiran Reddy]

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.

 

[Sai Jai]

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.

Exactly

 

[piinku1]

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.

PSB are public banks just for name where minimum public work are done.

 

[Kiran Reddy]

PSB are public banks just for name where minimum public work are done.

Ya I see even many of rural people moving to private banks from these public banks because of worst service they provide.

Though private banks charge more they at least provide some service. I see many villagers slowly using public banks only for govt schemes or loans but are using private banks for deposits or any transactions.

 

[piinku1]

Ya I see even many of rural people moving to private banks from these public banks because of worst service they provide.
.

Exactly not.
Vacancies are huge.Most of the staffs are old.Most of the old staffs have no interest for work and wait for their retirement and some don't good in computer.and at last huge corruption just like govt sector.

 

[Bapun]

Exactly not.
Vacancies are huge.Most of the staffs are old.Most of the old staffs have no interest for work and wait for their retirement and some don't good in computer.and at last huge corruption just like govt sector.

Same thing i was discussing offline with a friend yesterday. Senior retired people getting postings based on their so called experience, but young energetic guys not getting who atleast have intention to focus work!