Almost one-third of the cash machines in India have been found non-functional, according to a survey conducted by the Reserve Bank of India, the country's central bank.
"Incidentally our teams have recently undertaken a survey of almost 4000 automated teller machines (ATMs) across the country with sample size fairly representing geographies and bank categories. Almost one-third of the ATMs were found to be not working at that point," RBI's deputy governor S S Mundra said at a banking event in Mumbai.
The survey also found that a number of ATMs are failing to provide access services for the disabled and are not very customer friendly. Mundra said the RBI will be taking the necessary supervisory action in this regard.
India is home to nearly 200,000 cash machines, as per the RBI data. With a population nearing 1.3 billion, that amounts to one cash machine for 6,500 people. According to data from the World Bank, in 2015, there were nearly 18 cash machines per 100,000 adults. The data also suggests that nearly 21 percent of the world's unbanked adults are in India.
However, a number of efforts have been made in recent times to encourage individuals to open a bank account. In 2014, Prime Minister Narendra Modi launched his grand plan for financial inclusion that extends banking facilities to the huge population residing in rural India. The program also outlined setting up of nearly 20,000 ATMs across the country for easier access to finances.