(PTI)
The Confederation of ATM Industry (CATMI) has sought immediate regulatory intervention to correct the fee structure in the loss-making ATM deployer industry. It says the latest RBI direction to reconfigure cash vending machines will increase their cost by at least 25 per cent, leaving them unaviable. The industry also said that meeting the RBI directive will be contingent solely on banks taking on the additional cost, as this will increase their operational cost by 40 per cent. On June 21, RBI had issued a circular mandating control measures for ATMs and also to reconfigure the machine cassettes to accommodate the new set of banknotes coming to the markets. The industry is crying foul over the mounting losses as the transaction fee is only Rs 15, which was fixed in 2012.
