Not enough ATMs: RBI

The Pak Banker - - COMPANIES/BOSS -

Growth of card ac­cep­tance in­fra­struc­ture like au­to­mated teller ma­chines (ATMs) and point-of-sale (PoS) ter­mi­nals is not on a par with that of card is­suance.

This was ob­served by the Re­serve Bank of In­dia (RBI) in its con­cept pa­per on card ac­cep­tance in­fra­struc­ture re­leased on Tues­day. "The growth in ac­cep­tance in­fra­struc­ture has not kept pace with the growth in cards. While debit cards reg­is­tered a growth of 64 per cent be­tween Oc­to­ber 2013 and Oc­to­ber 2015, dur­ing the same pe­riod ATMs in­creased by around 43 per cent, while POS ma­chines in­creased by around 28 per cent," the pa­per said. An­other dis­con­cert­ing fea­ture is that the rate of growth in set­ting up card ac­cep­tance in­fra­struc­ture has also slowed down dur­ing th­ese three years.

"Debit cards vastly out­num­ber the vol­ume of credit cards is­sued in the coun­try. Fur­ther, a high num­ber of debit cards have been is­sued in re­cent times un­der the Prime Min­is­ter's Jan Dhan Yo­gana, es­pe­cially to cus­tomers in ru­ral ar­eas and smaller towns," the RBI said. Ac­cord­ing to the con­cept pa­per, the lower growth of ATM and PoS ter­mi­nals, both in terms of num­bers and ge­o­graph­i­cal spread, has im­pacted card use.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.