ATM supremacy in a cashless economy2 min read 23 May 2023, 09:56 PM IST
While data released by the Reserve Bank of India, such as currency in circulation and ATM withdrawals, may show the real pulse of the economy, ATM cash replenishments could also be an important yardstick to gauge the country’s economic health.
NEW DELHI : Cash continues to dominate the Indian economy despite the soaring popularity of digital payments and record UPI transactions. An average ATM in India was replenished with ₹1.35 crore of cash per month in FY23 by India’s largest cash management company CMS Info Systems, with the figure rising 10.1% from FY22, data shared with Mint showed.
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