Mumbai:In just a time span of 10 months, banks had shut down around 2000 ATMsat various locations, showed the data by the Reserve Bank of India. The time period of shutting down was between May 2017 and February 2018.
Until May 2017, the total number of onsite ATMs of banks was approximately 110,116, which came down to 107,630 as on February 2018. Notably, the number of offsite ATMs saw a marginal increase, led by the State Bank of India (SBI).
One of the main reason behind the major shut down is that banks are trying to cut down on various costs. Majority of banks closed both onsite and offsite ATMs.