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Half of ATMs in India ........ARE NOT VIABLE, to be shut by March 2019

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Nearly half of the Automated Teller Machines (ATMs) will be shut by the end of March 2019 due to unviability of operations, warned the Confederation of ATM Industry (CATMi) on Wednesday.

Currently, India has around 238,000 ATMs out of which around 113,000 ATMs, including 100,000 off-site and more than 13,000 white label ATMs, are expected to down their shutters by the end of this financial year, i.e. March 2019.

It is believed that the government of India's policy of digitization will be hit hard in the event of shutting down of 50 percent of the ATMs, even as both the urban and rural populations will have to suffer due to less availability of cash.

Prime Minister Narendra Modi had encouraged cashless transactions two years ago when he announced demonetisation of higher currency notes of 500 and 1,000 denominations, in an attempt to check corrupt and illegal cash transactions.

Local media reports quoted CATMi Director V. Balasubramanian as saying that it was becoming more and more unviable to run the ATMs.

He said the CATMi move is forced on account of recent regulatory guidelines for ATMs hardware and software upgrades, recent mandates on cash management standards and the Cassette Swap method of loading cash, entailing huge investments by the industry.

"This would severely impact millions of beneficiaries under the Prime Minster scheme who withdraw subsidies in form of cash through ATMs, besides urban centres, resulting in snaky queues and chaos akin to post-demonetisation," added Balasubramanian

Beloved, Jesus is coming soon...Repent, for the kingdom of heaven is at hand. 

Believe the word of God and His son Jesus Christ, receive Him JESUS into your heart as Lord and Saviour and the Spirit of God to do the impossible enters into your life.

Jesus will give you a new life, victory and eternal life. Will you accept Him today?

Say this Prayer: 

Lord Jesus I come to you as a sinner.
I am sorry for my sins, forgive me.
I believe you died for my sins, and was raised for my justification. 
Come into my heart be my Lord and Saviour, 
Give me the grace to serve You in truth and spirit. 
Thank You for saving my soul - I am born again!

His grace be with you all. 


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