How ATMs have been impacted by demonetisation

A majority of the ATMs in India are in a predominantly defunct state, more than six weeks after the demonetisation announcement.

In spite of the recalibration of nearly all the machines in the country, the value of currency being routed through the ATM network is fairly low, with the new Rs500 currency notes being filled into ATMs at a negligible level. Over these days, some regional variations were observed, with the central and east zones faring better than the north and south.

CMS Infosystems manages approximately 55,000 of the 220,000 ATMs across India. Of the total number of ATMs, 60% are outsourced by banks and tend to be mostly off site. On a regular day, CMS visits close to 30,000 ATMs for replenishment across 92% of the districts in India. Since demonetisation, the number of ATMs CMS visits daily has not crossed 13,000, and is sometimes as low as 11,000. This depends on cash availability on a day-to-day basis.

Comments

Post a Comment

Popular posts from this blog

JCB India launches its new 3DX ecoXPERT

Image
JCB India launches its new 3DX ecoXPERT Designed to give significant savings in Fuel and Maintenance Integrated with “IntelliPerformance” India’s leading manufacturer of Earthmoving and Construction Equipment, JCB India launched its all new 3DX ecoXPERT Backhoe Loader in Bhopal.With JCB’s ‘IntelliPerformance’ technology, which efficiently manages the energy demands of the machine, the intelligent new 3DX ecoXPERT saves fuel and reduces maintenance costs, thus leading to significant savings.Mr. Subir Kumar Chowdhury, Managing Director & CEO of JCB India says, “We are delighted to have launched our new Backhoe Loader, the 3DX ecoXPERT. This new machine is designed to give up to 12% savings on fuel and up to 22% savings on maintenance. Equipped with ‘IntelliPerformance’ technology the machine comes with advanced telematics called JCB Livelink which enables real-time fleet management of equipment for our customers. JCB has pioneered in integrating Smart technologies such as Internet o
Read more

Dr. Reddy’s Laboratories announces the first generic launch , Delayed Release Tablets in the U.S. Market

Image
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as “Dr. Reddy’s”) today announced the first-to-market launch of Naproxen and Esomeprazole Magnesium Delayed-Release Tablets, a therapeutic equivalent generic version of Vimovo ® (Naproxen and Esomeprazole Magnesium) Delayed-Release Tablets approved by the U.S. Food and Drug Administration (USFDA).“This launch is a testament to our core strengths in areas of research and development and intellectual property,” says Marc Kikuchi, Chief Executive Officer, North America Generics. “We are excited to be a part of forming the first generic market for Vimovo ®  Tablets and to provide an affordable treatment alternative for patients.” The Vimovo ® (Naproxen and Esomeprazole Magnesium) Delayed-Release Tablets brand had U.S. sales of approximately $414 million MAT for the most recent twelve months ending in December 2019 according to IQVIA Health*.Dr. Reddy’s Naproxen and Esome
Read more