The country's largest WLAO, India1, with a tad over 13,000 units, feels it can double deployments by FY28. K SRINIVAS, managing director and chief executive officer of India1, spoke with Raghu Mohan over the phone. Edited excerpts:
Why do we still lag on ATM density despite a WLAO policy to address the issue?
At 260,000 ATMS, our average penetration level is way below (compared to the rest of the world).
We are currently at about 21 ATMs per lakh population compared to 129 in the US, 117 in Japan; China and Brazil are at 81 and 97. In the semiurban and rural (SURU) areas, there are only about 13.3 ATMs per lakh population. In the last six years, WLAOs have done the heavy lifting, deploying more than 55 per cent of ATMs. In SURU areas, we account for two-thirds of all deployments.
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