With the increasing trend of UPI and digital transactions, if you are thinking that the era of cash is over, then just read this news. Banks have made a plan that 50 thousand new ATMs will be installed across the country. Obviously, banks have made this plan keeping in mind the use of cash.
New Delhi. With the increasing use of UPI apps like Paytm-PhonePe and promotion of digital transactions, if you are thinking that the era of cash is over, then wait. A new plan of banks is coming out, which will change your thinking. Banks believe that even today cash transactions remain at the top in the country. Keeping this trend in mind, banks have made new planning. The common man will also benefit from this and can earn lakhs of rupees sitting at home.
Actually, banks have planned to install more than 10 thousand ATMs across the country in the coming one to one and a half years. According to the report of Business Line, banks have made preparations to install 10 thousand new machines to expand their ATM range. Banks also intend to replace 40 thousand damaged ATMs. This clearly shows that cash transactions are still the first choice of people and banks also understand this very well.
Thousands of new ATMs were installed last year also
It is not that banks have planned to install new ATMs only for the next 12-18 months. Last year also, banks installed thousands of new ATMs across the country. According to RBI data, in the last financial year all the banks installed a total of 4,452 ATMs across the country and now the total number has increased to 2,19,513. White label ATMs had the highest participation in this. In the last financial year, 4,292 white label ATMs were installed, the total number of which has now reached 35,791.
How much will it cost the banks?
As the banks are planning that 40 thousand ATMs will be replaced and 10 thousand new ATMs will be installed. In this way, the total cost of installing 50 thousand ATMs will be Rs 2,000 crore. Currently, the share of government banks in the total ATMs is 63 percent and that of the private sector is 35 percent. 51 percent ATMs in rural areas are white label. These ATMs are run by non-banking companies.
How can a common man earn money?
Banks are always looking for space to install ATMs. If you have a place or property at the right location, you can install an ATM there and charge a hefty rent every month. Banks usually pay rent of Rs 60 to Rs 200 per square foot. If you have given 100 square feet of land, you will get a rent of Rs 20 thousand every month. On the other hand, if you install ATM on franchise model, you can earn up to Rs 60 every month.
