PSU banks do not have any plan to shut down ATMs: Govt

Minister of State for Finance Shiv Pratap Shukla has clarified that Public Sector Banks (PSBs) do not have any plans to shut down their ATMs. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of closing down by March next year due to regulatory compliance changes making the business unviable due to rising costs and dipping or stagnant revenues. In a written reply to Lok Sabha, Mr Shukla said the...