More and more people use direct payment gateways by banking app, ATM card and netbanking. So necessity to have cash is reduced. Even in bank branches there are few customers for cash transactions. Dependency on cash is reduced.
Re: ATM
by Gladyschellam on Dec 08, 2018 04:30 PM
There is no specific data available to what extent Cash transaction is reduced.I presume may be 10-15% of account holders, among literates use Net Banking etc. ATMs are being used by common man too.
However I read Cash is being used more after DEMO - while Cash Circulation was about 18 lakh crores before DEMO and now increased to over 20 lakh crores. May be because of introduction of 2000 rs notes.
After DEMO house hold savings in Banking sector is reduced while it was 34% earlier and now 24%.- affected in Savings Bank a/c. - which is being called as Low Cost Funds which naturally affects profitability of Banks as well as Financial Crunch or Liquidity in Banks.
When there is no Savings, no question of lending too, is the situation now.
Fear among general public may be the main reason which has to be eased out by the government.
Re: ATM
by jkj on Dec 09, 2018 11:19 PM
Emphasis on paperless treansaction but banks appear to be levying more and more charges. So, the customer/ general public will now be loser and banks will be most benefitted. Great!!!
He says that 37 million JDY accounts were opened and 179 million debit cards were issued ... This means that 4-5 cards were issued for each account ??? Is he correct ? * Does the density of ATMs have to be same for urban and rural areas ? Journalism at its worst .... * ATMs are not profit centres they are service points ... these two penny worth of corporate money counters dont want to understand this simple fact... Every ATM transaction saves more than 100 rupees for the branch these people must understand this ... Corporate world has to understand that only when money reaches in the hands of spenders can they sell their goods and services to the people.... The talk of ATMs going into losses is all badly projected ... ATMs are extensions of bank branches and not isolated profit centres ...
