ATM daily cash inflow plunges to 30%: CATMi

TIL Desk/Business/Mumbai/ The daily cash flows into banks’ ATMs has fallen drastically since the first week of April and now is as low as 30 per cent for public sector banks, the Confederation of ATM Industry said on Tuesday.

CATMi spokesperson V. Balasubramanian said that the ATM service providers do a daily calculation of the cash required which is sent to banks at night for the next day.

Till March end, the daily demand was being met by 90 per cent, irrespective of public sector or private banks, but this fell drastically since the first week of April.

“It has fallen drastically in the past week… Now the requirement is only being met at 30 per cent by the public sector banks,” said Balasubramanian on the crisis.

Since the past few days, many banks ATMs have been facing an acute cash crunch in different parts of the country, including Maharashtra.