The Confederation of ATM Industry (CATMi) says recent rules may render ATMs unviable.
India has about 2.38 lakh ATMs, of which around 1.13 lakh ATMs are expected to down their shutters.
About 1 lakh off-site ATMs and over 15,000 non-bank ATMs could shut down.
Regulatory guidelines for ATM upgrades and mandates on cash management is making operations tough.
CATMi expects half of the ATMs to shut down by March 2019.
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