Will Introduction of Private ATMs in India be successful?

Answer 1

I have seen such Private ATMs in USA and other developed Nations. They are very successful and are even set up in urban and city areas. However, this is a novel idea for a country like India. Only time will tell if this will be successful, but I think this will be a successful business idea because:1. ATM Penetration in rural and semi-urban areas of India is very poor. Chances of us finding an ATM in such areas is very slim. So, if private non-banking entities set up an ATM Network, it will be very useful for customers

2. Though these private non-banking entities may charge you a fee for providing the service, once competition heats up among private players in setting up these networks, the fees may come down and become cheaper

All in all, this is a very good development and hopefully it will be Successful!!!