Mitron Posted December 22, 2018 Report Posted December 22, 2018 1 minute ago, Heroin said: 🔫 👊 Quote
Kool_SRG Posted December 22, 2018 Report Posted December 22, 2018 1 minute ago, Android_Halwa said: Indian ATM penetration still very low when compared to the number we need. Unna ATMs eh chala mootha padipothunnayi monna madya article kuda padindhi ga march tarvaata chala ATMs permenant ga museyochu ani due to maintenance cost issues.. Half of India's ATMs may shut down by March 2019, warns Industry body Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019 Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019, the Confederation of ATM Industry (CATMi) warned Wednesday. Closure of the ATMs will impact thousands of jobs and also the financial inclusion efforts of the government, the industry body said in a statement. "Service providers may be forced to close down almost 1.13 lakh ATMs across the country by March 2019. These numbers include approximately one lakh off-site ATMs and a little over 15,000 white label ATMs," it said. The industry has reached a "tipping point", the body added. A majority of the ATMs which can be shut down will be in the non-urban areas, it said, underlining that this can impact the financial inclusion efforts as beneficiaries use the machines to withdraw government subsidies. The industry body said that recent regulatory changes, including those on hardware and software upgrades, coupled with mandates on cash management standards and the cassette swap method of loading cash, will make ATM operations unviable, resulting in the closure. The new cash logistics and cassette swap method will alone result in costs of Rs 3,000 crore for the industry, it estimated. It added that the ATM industry, including managed service providers, brown-label ATM deployers and white label ATM operators (WLAO), is still reeling under the shock of demonetisation. "The situation has further deteriorated now due to the additional compliance requirements that call for a huge cost outlay. The service providers do not have the financial means to meet such massive costs and may be forced to shut down these ATMs," it said. The only way to salvage the situation for the industry, according to the body, is if banks "step in to bear the load of the additional cost of compliances". "Unless ATM deployers are compensated by banks for making these investments, there is likely to be a scenario where contracts are surrendered, leading to the large-scale closure of ATMs," it said. Revenues for providing ATMs as a service are not growing at all due to very low ATM interchange charges and ever-increasing costs, it said, adding that such changes in the landscape were not anticipated while signing contracts with the banks. The WLAOs have accumulated losses, and the compliance costs can result in over 15,000 machines run by them shutting down, the industry body added.   Quote
Kool_SRG Posted December 22, 2018 Report Posted December 22, 2018 CATMi tells RBI to constitute task force on pricing to prevent closure of ATMs MUMBAI, NOVEMBER 23 To avoid closure of ATMs due to rising compliance costs, the Confederation of ATM Industry (CATMi) has called upon the Reserve Bank of India (RBI) to constitute a task force to transparently discover pricing related to implementing cassette swap for replenishing cash and adhering to minimum standards for cash-management activities. While the RBI has asked banks to comply with its directives (issued in April 2018) on cash management (engaging cash-in-transit companies/cash replenishment agencies), and using lockable cassettes in ATMs, which will be swapped at the time of cash replenishment, there has been no agreement so far between banks and service providers on how the increased costs can be defrayed via fresh service-level agreements. According to Himanshu Pujara, Treasurer, CATMi, the RBI, either under its own aegis or under the aegis of the Indian Banks’ Association (IBA), should constitute a task force involving CATMi, banks and CIT (cash-in-transit) agencies to ascertain the actual cost of providing these services. “We need buy-in of the larger ecosystem. We want a committee/task force to be constituted. It can do proper price discovery of every item of compliance, and the corresponding fair cost that should be assigned to each of those items. “Let there at least be unanimity across the industry on what these costs will be. Once there is unanimity, then it is more about who bears the cost…So, the key is to establish a baseline in terms of what those costs are,” said Pujara, who is also Managing Director of Euronet Services India Pvt Ltd. On Wednesday, CATMi warned that almost 50 per cent of the 2.38 lakh ATMs may have to be closed by March 2019 on account of unviability of operations brought about by recent regulatory guidelines for ATM hardware and software upgrades, recent mandates on cash management standards, and the cassette swap method of loading cash. As per estimates, each ATM will require three sets of five cassettes – one set in the ATM, one in transit, and another at branch/CIT company (ready for loading next day). The cost of each cassette is about ₹20,000. So, the one-time cost of additional cassettes for over two lakh ATMs could be close to ₹6,000 crore. Further, to comply with the minimum cash management standards, including the requirement of specially designed and fabricated Light Commercial Vehicles having separate passenger and cash compartments with CCTV covering both compartments, and two armed security guards (gunmen), prescribed by the RBI, the cost per month per ATM will increase by ₹4,000. “So, effectively, one by one, over the last 12 months, there have been so many of these compliance mandates issued by the RBI, and the government that has taken the industry to a point where it is completely unviable for these service providers to bear these costs. “...And we have been in conversation with the banks, but there is no resolution in terms of how the commercials will basically be addressed on these issues,” said Pujara. Quote
Mitron Posted December 22, 2018 Report Posted December 22, 2018 Just now, Kool_SRG said: Unna ATMs eh chala mootha padipothunnayi monna madya article kuda padindhi ga march tarvaata chala ATMs permenant ga museyochu ani due to maintenance cost issues.. Half of India's ATMs may shut down by March 2019, warns Industry body Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019 Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019, the Confederation of ATM Industry (CATMi) warned Wednesday. Closure of the ATMs will impact thousands of jobs and also the financial inclusion efforts of the government, the industry body said in a statement. "Service providers may be forced to close down almost 1.13 lakh ATMs across the country by March 2019. These numbers include approximately one lakh off-site ATMs and a little over 15,000 white label ATMs," it said. The industry has reached a "tipping point", the body added. A majority of the ATMs which can be shut down will be in the non-urban areas, it said, underlining that this can impact the financial inclusion efforts as beneficiaries use the machines to withdraw government subsidies. The industry body said that recent regulatory changes, including those on hardware and software upgrades, coupled with mandates on cash management standards and the cassette swap method of loading cash, will make ATM operations unviable, resulting in the closure. The new cash logistics and cassette swap method will alone result in costs of Rs 3,000 crore for the industry, it estimated. It added that the ATM industry, including managed service providers, brown-label ATM deployers and white label ATM operators (WLAO), is still reeling under the shock of demonetisation. "The situation has further deteriorated now due to the additional compliance requirements that call for a huge cost outlay. The service providers do not have the financial means to meet such massive costs and may be forced to shut down these ATMs," it said. The only way to salvage the situation for the industry, according to the body, is if banks "step in to bear the load of the additional cost of compliances". "Unless ATM deployers are compensated by banks for making these investments, there is likely to be a scenario where contracts are surrendered, leading to the large-scale closure of ATMs," it said. Revenues for providing ATMs as a service are not growing at all due to very low ATM interchange charges and ever-increasing costs, it said, adding that such changes in the landscape were not anticipated while signing contracts with the banks. The WLAOs have accumulated losses, and the compliance costs can result in over 15,000 machines run by them shutting down, the industry body added.   neeku inka matter ardham kaledu 7 minutes ago, Mitron said: aa vartha chadivi oka varganiki romalu nikkaboduchukuntayi. next time ala nijalu cheppaku.  Quote
Kool_SRG Posted December 22, 2018 Report Posted December 22, 2018 2 minutes ago, Mitron said: neeku inka matter ardham kaledu  Quote
Android_Halwa Posted December 22, 2018 Report Posted December 22, 2018 @Kool_SRG a ATM muthapadipotayi annadi oka silly news article... association saale gallu kathalu padtunaru anthe thappa, antha scene ledu... India needs literally an ATM in every village...right now, almost 3 lakh people ki oka ATM vundi and usage is barely at 10% of the population imagine if 30-40% of Indian population starts using ATM services, India would probably need to multiply ATM's by 10 fold or 20 fold with in a decade...give or take 1 million ATM's Each ATM costs an average 1 crore and additional maintenance runs up to ten's of thousands a month, IT support, cash maintenance etc... idantha investment ae kada...minimum surcharges veyodhu because of vijay mally and Nirav modi ante etla ? Quote
uttermost Posted December 22, 2018 Report Posted December 22, 2018 7 minutes ago, Kool_SRG said: Unna ATMs eh chala mootha padipothunnayi monna madya article kuda padindhi ga march tarvaata chala ATMs permenant ga museyochu ani due to maintenance cost issues..  Half of India's ATMs may shut down by March 2019, warns Industry body Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019 Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019, the Confederation of ATM Industry (CATMi) warned Wednesday. Closure of the ATMs will impact thousands of jobs and also the financial inclusion efforts of the government, the industry body said in a statement. "Service providers may be forced to close down almost 1.13 lakh ATMs across the country by March 2019. These numbers include approximately one lakh off-site ATMs and a little over 15,000 white label ATMs," it said. The industry has reached a "tipping point", the body added. A majority of the ATMs which can be shut down will be in the non-urban areas, it said, underlining that this can impact the financial inclusion efforts as beneficiaries use the machines to withdraw government subsidies. The industry body said that recent regulatory changes, including those on hardware and software upgrades, coupled with mandates on cash management standards and the cassette swap method of loading cash, will make ATM operations unviable, resulting in the closure. The new cash logistics and cassette swap method will alone result in costs of Rs 3,000 crore for the industry, it estimated. It added that the ATM industry, including managed service providers, brown-label ATM deployers and white label ATM operators (WLAO), is still reeling under the shock of demonetisation. "The situation has further deteriorated now due to the additional compliance requirements that call for a huge cost outlay. The service providers do not have the financial means to meet such massive costs and may be forced to shut down these ATMs," it said. The only way to salvage the situation for the industry, according to the body, is if banks "step in to bear the load of the additional cost of compliances". "Unless ATM deployers are compensated by banks for making these investments, there is likely to be a scenario where contracts are surrendered, leading to the large-scale closure of ATMs," it said. Revenues for providing ATMs as a service are not growing at all due to very low ATM interchange charges and ever-increasing costs, it said, adding that such changes in the landscape were not anticipated while signing contracts with the banks. The WLAOs have accumulated losses, and the compliance costs can result in over 15,000 machines run by them shutting down, the industry body added.   so where are the new market entrants into this cash loading business?? shouldn't the 'market' self correct, and provide the solution according to merit bois? Quote
uttermost Posted December 22, 2018 Report Posted December 22, 2018 1 minute ago, Android_Halwa said: @Kool_SRG a ATM muthapadipotayi annadi oka silly news article... association saale gallu kathalu padtunaru anthe thappa, antha scene ledu... India needs literally an ATM in every village...right now, almost 3 lakh people ki oka ATM vundi and usage is barely at 10% of the population imagine if 30-40% of Indian population starts using ATM services, India would probably need to multiply ATM's by 10 fold or 20 fold with in a decade...give or take 1 million ATM's Each ATM costs an average 1 crore and additional maintenance runs up to ten's of thousands a month, IT support, cash maintenance etc... idantha investment ae kada...minimum surcharges veyodhu because of vijay mally and Nirav modi ante etla ? exactly. Quote
perugu_vada Posted December 22, 2018 Report Posted December 22, 2018 Ila collect cheyatam common man nunchi, badaa businessman ki ichesi vaatalu dobbeyatam , Quote
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