TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Ghaziabad Mayor Orders FIR Over Illegal 'Mazar'

    Ghaziabad Cracks Down on ‘Land Jihad’: Mayor Orders FIR Over Illegal ‘Mazar’

    From Magadh to Mumbai: Thackeray Roots Revisited Amid Raj-Uddhav Reunion

    From Bihar to Mumbai: Thackeray Roots Revisited Amid Raj-Uddhav Reunion

    All is not well within the ruling alliance in Jharkhand.

    Tensions in Jharkhand: Cracks Appear Between JMM and Congress, Raising Concerns for INDI Bloc

    Raj, Uddhav Push Marathi Agenda for Political Comeback

    Thackeray Cousins Reunite, Use Language Card to Stay Relevant in Maharashtra Politics

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India’s Forex Reserves Surge Past $700 Billion

    India’s Forex Reserves Surge Past $700 Billion, Close to All-Time Record

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Major Arms Seizure in Manipur Hill Districts

    Amid Ongoing Tensions, Security Operation Yields Major Arms Seizure in Manipur Hill Districts

    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Sydney Protest Sends Global Message Against Hindu Persecution in Bangladesh

    Sydney Protest Sends Global Message Against Hindu Persecution in Bangladesh

    PM Modi Receives Trinidad's Highest Civilian Honour, Lands in Argentina to Deepen Strategic Ties

    PM Modi Receives Trinidad’s Highest Civilian Honour, Lands in Argentina to Deepen Strategic Ties

    when gandhi's statue was removed in ghana

    When Mahatma Gandhi’s Statue Was Removed in Ghana for Being ‘Racist’

    Empower the Global South: PM Modi

    Time to Reshape Global Governance, Empower the Global South: PM Modi

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    Pakistan Hockey Team Set to Visit India for Asia Cup 2025: First Time Since Operation Sindoor

    First Time Since Operation Sindoor ; Pakistan Hockey Team Set to Visit India for Asia Cup 2025

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Ghaziabad Mayor Orders FIR Over Illegal 'Mazar'

    Ghaziabad Cracks Down on ‘Land Jihad’: Mayor Orders FIR Over Illegal ‘Mazar’

    From Magadh to Mumbai: Thackeray Roots Revisited Amid Raj-Uddhav Reunion

    From Bihar to Mumbai: Thackeray Roots Revisited Amid Raj-Uddhav Reunion

    All is not well within the ruling alliance in Jharkhand.

    Tensions in Jharkhand: Cracks Appear Between JMM and Congress, Raising Concerns for INDI Bloc

    Raj, Uddhav Push Marathi Agenda for Political Comeback

    Thackeray Cousins Reunite, Use Language Card to Stay Relevant in Maharashtra Politics

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India’s Forex Reserves Surge Past $700 Billion

    India’s Forex Reserves Surge Past $700 Billion, Close to All-Time Record

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Major Arms Seizure in Manipur Hill Districts

    Amid Ongoing Tensions, Security Operation Yields Major Arms Seizure in Manipur Hill Districts

    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Sydney Protest Sends Global Message Against Hindu Persecution in Bangladesh

    Sydney Protest Sends Global Message Against Hindu Persecution in Bangladesh

    PM Modi Receives Trinidad's Highest Civilian Honour, Lands in Argentina to Deepen Strategic Ties

    PM Modi Receives Trinidad’s Highest Civilian Honour, Lands in Argentina to Deepen Strategic Ties

    when gandhi's statue was removed in ghana

    When Mahatma Gandhi’s Statue Was Removed in Ghana for Being ‘Racist’

    Empower the Global South: PM Modi

    Time to Reshape Global Governance, Empower the Global South: PM Modi

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    Pakistan Hockey Team Set to Visit India for Asia Cup 2025: First Time Since Operation Sindoor

    First Time Since Operation Sindoor ; Pakistan Hockey Team Set to Visit India for Asia Cup 2025

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Fear-mongering by the mainstream media over ATM closures

Amit Agrahari by Amit Agrahari
18 December 2018
in Analysis
ATM Closures, Media

PC: stockmarket.in

Share on FacebookShare on X

A few weeks back the report by Confederation of ATM industry (CATMi) claimed that almost one lakh of the existing 2.38 lakh machines face the risk of closure by March next year. “A large number of ATMs in non-urban locations may be shut down due to unviability of operations. If this happens, the financial inclusion programme would be severely impacted as millions of beneficiaries under the government’s Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme, who withdraw subsidies in the form of cash through ATMs, may find their neighborhood ATM shut,” said the report. However Minister of State for Finance, Shiv Pratap Shukla informed the Parliament that state-run public sector banks have no plans of ATM closures.

The industry body claimed in its report that ATM operating is no longer profitable with new compliance rules and thus half of the existing may be closed. “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 unless banks step in to bear the load of the additional cost of compliance,” noted the report. “To implement all these security, software-hardware directives would entail an additional cost of minimum Rs 1.5 lakh per ATM per month. This works out to astronomical figures for all the 2.38 lakh ATMs in the country,” said CATMi director V Balasubramanian. The ATM industry body published a biased report to seek some exemptions in regulations from the government.

RelatedPosts

India’s First Train ATM Launched Aboard Mumbai-Manmad Panchavati Express

2000 Rupees note might soon go out of circulation

No need to go to ATM for cash withdrawal, PhonePe is coming with revolutionary tech to destroy ATM industry

Load More

Confederation of ATM industry aimed at fear-mongering through the report that rural areas of the country will face another cash crunch in the next few months due to massive disclosures of ATM. Almost half of ATMs in the country are operated by the public sector banks, the industry body decided that these banks will shut down the ATMs due to overbearing cost. The industry body did not seek clarification from the management of PSBs or the government over the closure of the ATMs. So, the report by the industry body was utterly biased. The industry association wanted to pressure the government to ease out compliance requirements. The easy rules would save crores of rupees for the private players associated with the industry.

The mainstream media organizations collaborated with the industry body intentionally or due to their ignorance indulged in fear-mongering. Almost all mainstream TV channels and newspapers presented it as their cover story. The industry body wanted to deliver the message that people in rural areas may face another event of demonetization scale in next few months. The media organizations followed the story sans investigation or inputs from government, which is the major player in our country’s banking industry. The industry body succeeded in its aim with the help of the biased mainstream media. 

Instead of closing the ATMs in rural areas, government will promote digital transactions. The government is also working on a solution which will allow ATM transactions with Unified Payments Interface (UPI). This will reduce the usage of ATM card for transactions. The theft of ATMs in rural areas has increased exponentially during the last few years. The promotion of digital transactions in rural areas will save operating cost for banks and other players as well as enhance security. The promotion of digital transactions and cutting down operating costs is necessary but fear mongering without due investigation is unethical. To blackmail the government in collaboration with mainstream media is also not right.

Tags: ATMclosureMedia propaganda
Share172TweetSend
Previous Post

Manikarnika Trailer Review – A fitting tribute to the glory of Rani Lakshmi Bai

Next Post

CAG finds irregularities in Karnataka’s land grant

Related Posts

Siddaramaiah Spins Conspiracy Despite Health Ministry Rebuttal
Analysis

Vaccine Blame Game? Siddaramaiah Spins Conspiracy Despite Health Ministry Rebuttal

4 July 2025

In a political atmosphere already tense due to factionalism within the Karnataka Congress, Chief Minister Siddaramaiah's recent remarks on...

BJP's Statewide Padyatra in Jharkhand: A Movement Against Infiltration and Tribal Decline
Analysis

BJP’s Statewide Padyatra in Jharkhand: A Movement Against Infiltration and Tribal Decline

4 July 2025

The Bharatiya Janata Party (BJP) is gearing up to launch an extensive padyatra across Jharkhand, a movement that seeks...

‘M’ for Mandate: NDA Bets on Mahila, Mandir, and Modi in Bihar 2025
Analysis

‘M’ for Mandate: NDA Bets on Mahila, Mandir, and Modi in Bihar 2025

28 June 2025

With the countdown to the 2025 Bihar Assembly elections underway, the political arena is witnessing early but intense action....

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Murugan Wave Rattles INDIA Bloc, Triggers Reactionary Meet in Madurai

Murugan Wave Rattles INDIA Bloc, Triggers Reactionary Meet in Madurai

00:08:10

Rage on stage: why a police officer resigned quit after CM's outburst

00:03:40

Right to religion vs duty to identify: where should India draw the line?

00:04:34

Junior Kharge Calls to Ban RSS Amid Karnataka Congress Civil War!

00:10:02

Kerala Muslim Groups oppose Zumba classes for School Children

00:07:21
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited