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Banks flag shortage of ATMs to govt, RBI: Report
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Banks flag shortage of ATMs to govt, RBI: Report

| @indiablooms | 19 Jun 2024, 05:48 pm

New Delhi: Banks have reportedly informed the government and Reserve Bank of India (RBI) about shortage in supply of automated teller machines (ATMs), reported Economic Times.

Banks have also pushed for clarity in norms for procurement via the government e-marketplace, the report claimed.

Top bankers raised the matter in a meeting with officials last month reportedly saying, “We have discussed the issue internally... It was highlighted that one big issue is that ATM vendors do not have the capacity.”

According to industry insiders, the initial cause of the low capacity is linked to the 'Make in India' guidelines implemented in FY20, which delayed vendors in establishing operations in India. A source informed the outlet, “Not all ATM vendors are registered there, and we also need more clarity on the process and guidelines to avoid any vigilance action.”

The source suggested that banks should be permitted to issue independent requests for proposals (RFPs) for ATMs if all guidelines are met.

Additionally, bankers mentioned that the ATM shortage is particularly challenging as they are currently transitioning to lockable cassette mechanisms in ATMs.

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