Automated Teller Machines (ATMs): India

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This is a collection of articles archived for the excellence of their content.

ATM: A change in banking experience

The Times of India , Sep 12 2015

India and the world, ATMs per lakh of adult population, 2004 and 2013; Graphic courtesy: The Times of India , Sep 12 2015

The former chairman of America's Federal Reserve, Paul Volcker, had once famously remarked that the only useful banking innovation was the invention of the ATM. First installed in Enfield Town, North London, in 1967, the machine has radically changed the banking customer's experience. The ATM Industry Association, a global non-profit industry association, estimates that there are over 2.2 million ATMs installed across the world. A comparison with other major economies shows that ATM penetration is among the lowest in India. Compared to a global average of 34 machines per lakh adults, India has only 13 per lakh.