Tag: ATMs
17 Results
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50% ATMs in India may shut by March, digitization to be hit: CATMi
Nearly 50 percent of Automated Teller Machines (ATMs) may be shut down by March 2019 due to unviability of operations, hitting hard both urban and rural population, and dealing a blow to the digitization policy, the Confederation of ATM Industry (CATMi) warned on Wednesday. Currently, India has approximately 238,000 ATMs installed, of which around 113,000 …
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November 21, 2018 -
Money matters
The county-wide cash-crunch and empty ATMS makes one long for the good old days when 10-rupee and 100-rupee notes could buy a lot. Grandfather got Rs 10 a month as salary for filling up gun-powder in cartridges at the Fort and was able to meet the family budget. And why not? For a rupee one …
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April 29, 2018 -
Cash situation improving across country, says govt
Sources say Andhra Pradesh and Telangana were distributing farm subsidy of Rs 4,000 per acre to each farmer in cash, one of the reasons for shortage
April 19, 2018 -
Cash situation at ATMs improving, says SBI
India’s largest lender SBI said on Wednesday that cash availability at its ATMs has increased in the past 24 hours following reports of currency shortages and ATMs running dry from different parts of the country. Several other lenders, including PNB, Canara Bank and Axis Bank claimed that cash shortage at ATMs was limited to select …
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April 18, 2018 -
ATMs may take three months to dispense Rs. 200 notes
While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency as it will involve a huge exercise of recalibration. Some banks have even asked the ATM companies to begin testing the new note for recalibration of the machines, though …
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September 3, 2017 -
Ransomware, cash crunch hits ATMs in Bengaluru
Hundreds of ATMs across India's tech hub remained shut for the second day due to possible virus attack by WannaCry ransomware and cash crunch, said a bank official on Tuesday. "Ransomware attack appears to be causing glitches at many ATMs that work on Random Access Memory (RAM). Old ATMs are affected by the malware," State …
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May 16, 2017 -
SBI says no fake note likely from its ATMs, branches
The State Bank of India (SBI) on Wednesday said "no fake note is likely to be dispensed through its ATMs at any time" as it has state-of-the-art note sorting machines. Reacting to media reports that an SBI ATM here dispensed fake 2,000 rupee notes, an SBI statement from Mumbai said the bank has in place, …
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February 22, 2017 -
SBI says no fake note likely from its ATMs, branches
The State Bank of India (SBI) on Wednesday said "no fake note is likely to be dispensed through its ATMs at any time" as it has state-of-the-art note sorting machines. Reacting to media reports that an SBI ATM here dispensed fake 2,000 rupee notes, an SBI statement from Mumbai said the bank has in place, …
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February 22, 2017 -
Railways offers platforms for setting up over 2,000 ATMs
Eyeing about Rs 2,000 crore annually from non-tariff sources, Railways is all set to reach out to big names from the advertising world for spaces in trains, level crossings and areas along tracks besides offering major platforms for installing over 2000 ATMs. Railway Minister Suresh Prabhu will launch the non-fare revenue policy, a first in …
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January 8, 2017 -
Hunt for money at ATMs continues in Delhi-NCR
People in several parts of Delhi-NCR on Wednesday went around looking for functional ATMs, or waiting in queues before the ones dispensing cash, as the cash machines continued to perform below the official claims. Almost all the ATMs in Mandavali, Lakshmi Nagar and Mother Dairy areas in East Delhi wore a forlorn look and failed …
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January 4, 2017 -
Why continue restrictions on withdrawing money: Chidambaram
Congress leader and former Finance Minister P Chidambaram on Saturday targeted Prime Minister Narendra Modi and asked the Centre why restrictions continued on withdrawing money after the deadline of December 30 for restoring order post-demonetisation had past. In a tweet, Chidambaram asked: "PM (Prime Minister) asked for forbearance until December 30. That is over. Why are …
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December 31, 2016 -
Govt mulls tax on big withdrawals
As people continue to stand in long queues outside banks and ATMs to withdraw cash, the government is all set to put further pressure on consumers. In order to disincentivise cash transactions, the government is likely to impose a withdrawal tax in the range of 0.5 to 2 per cent from banks and ATMs for …
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December 24, 2016 -
Demonetisation Day 44: No queues at ATMs, but no cash also!
People in the national capital and adjoining Noida and Gurugram satellite towns continued to suffer the pangs of cashlessness on Thursday — the 44th day of demonetisation — as most of the ATMS in the region remained dry. Scores of people IANS spoke to said they have been visiting one ATM after the other to …
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December 22, 2016 -
Note ban: No respite from long queues at banks
Banks are still struggling to manage long queues as cash starved customers throng branches to get valid currency notes. To meet the demand, branches are resorting to cash rationing as they are getting less than their requirement from currency chests. However, situation at many ATMs is getting better with increased cash availability. RBI yesterday said …
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December 14, 2016 -
Day 35 of demonetisation: Banks, ATMs still crowded
Banks and ATMs on Wednesday continued to be crowded with long queues visible outside even after 35 days of the ban on high denomination notes. The queues appeared just as long and branches crowded, and constituted disaffected and despairing people, made cash-poor by the central government’s demonetisation move. The Punjab National Bank (PNB) branch near …
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December 14, 2016 -
No respite from long queues outside ATMs in Delhi
On the first day of the long three-day weekend holiday for banks, hundreds of people were present in long queues outside ATMs which were dispensing cash on Saturday, while most of the machines remained cash less. There was no respite in sight for cash-strapped people on Saturday as queues outside ATMs for money withdrawal continued …
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December 10, 2016 -
The pain persists
The unusual is a critical element of the news”. It is a pathetic reflection on the functioning of the present government that a month after its demonetisation adventure, the agonies of the common folk have now become so routine that long queues at banks/ATMs have become so normal” that they no longer attract the full …
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December 8, 2016