Tata to rollout 15,000 ATMs in the next 3 years

In line with Reserve Bank of India’s vision to accelerate growth and improve ATM penetration across the country, the Tatas before getting permission to open a bank yet, are taking big stride in financial inclusion. The Tata group company, Tata Communications Payment Solution, has got RBI clearance to install 15,000 ATMs in the next three years, two-third of which will be in smaller towns, said Economic Times. The Reserve Bank of India has permitted non-banking companies to deploy white-label ATMs, allowing customers to withdraw cash from these machines using debit cards of any bank, in an effort to reach out to the deepest pockets of the country. The company said that it will roll out three machines in the rural belt and 17 in semi-urban districts for every 10 machines installed in bigger cities, in line with the country's financial inclusion agenda. The group has installed 400 machines so far. "ATM density is low in India and there's enough space for everyone to do business," Tata Communications Payment CEO Sanjeev Patel said, after announcing the ATM roll-out plan in Bengal. "We have chosen West Bengal reasonably early in our strategy. Low ATM density in northern parts of West Bengal makes it an attractive region," he said