India's ATM industry is banking on the unbanked

....."Although there has been nearly 23 percent to 25 percent year-on-year growth in the number of ATMs, their deployment has been predominantly in Tier I & II centres," said an RBI statement. "There is a need to expand the reach of ATMs in Tier III to VI centres. In spite of the banks' pioneering efforts in this direction, much needs to be done." This statement was made in connection with a new program just implemented by the RBI. In order to speed up the achievement of its financial inclusion objectives, the central bank announced in April that it would allow, for the first time, the white-labelling of ATMs in India. .....

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