Back to Blog
Label infographic icons7/14/2023 ![]() ![]() On a more granular basis, there are only 13 ATMs per 100,000 customers in rural and semi-urban areas, as against 56 ATMs per 100,000 customers in metro and urban areas. “WLA operators now contribute 23% of all ATMs in semi-urban and rural areas and have contributed 68% of all new deployment in such regions in the last five years,” he said, adding that despite 81% of the Indian population living in semi-urban and rural regions, only 50% of ATMs are deployed in such regions. ![]() Overall, the four WLA operators have deployed 84% of their total ATMs in semi-urban and rural areas, while for banks the figure is 45%, Srinivas said. In semi-urban and rural areas, though, banks have 100,092 ATMs, and WLA operators 29,929. K Srinivas, CEO at India1 Payments, the largest WLA operator in the country with 12,124 ATMs, said banks have 222,743 machines as of March-end, while WLA operators have installed 35,791 - translating into around 4,000 machines a year. The existing players have also not been able to scale up that fast. The same year, RBI revoked the CoA of RiddhiSiddhi Bullions and AGS Transaction Technologies due to non-compliance with regulatory requirements to set up WLAs within established timelines. Srei was the first to surrender its certificate of authorisation (CoA) to the RBI in 2018, citing viability issues, and Muthoot Finance followed suit in 2021. RBI’s Default Loss Guarantee Guidelines For Digital Lending – Promoting Innovationįour of them are no longer present in the segment. ![]()
0 Comments
Read More
Leave a Reply. |