The following chart sets forth a trend in the number of transactions at ATMs from July 2018 to March 2021:

 

1200 + >
1100 Pre COVID-19 Post COVID-19

1000 915.2 (Dec-18)

900 759. 899.2 (Qet:12) Easing Restrictions and

    
 
  
  
 
  

Non-financial Unlock Phase

800 '\Transactions Transactions Restored at

 

700 = me Pre-COVID-19 Levels
2s Growing Currency in Y 602.2 (Mar-21)
600 Circulation and reviving
500 economy 505.5 (Sep-20)
400 Impact of COVID-19,
300 Lockdown and restrictions
9 (Apr-20)
200

 

 

— # of Transactions (MN)

Source: India ATM Market Outlook to 2026, Ken Research, August 2021.

The restrictions caused by COVID-19 have impacted all of India’s major industries. Lockdowns have forced the
population to stay indoors and shut down all non-essential businesses in the country. People in the country
started avoiding the use of cash and switched to digital methods of payment to avoid getting in contact with the
virus. Shutdown of business activities led people to shop online which directly affected the ATM segment. The
value of cash transactions at ATMs decreased from 234,241.6 billion during financial year 2020 to 228,956.6
billion during financial year 2021. Similarly, the number of transactions dropped from 8,798.6 million (financial
and non-financial) during financial year 2020 to 6,100.9 million (financial transactions only) during financial
year 2021. The number of financial transactions at ATMs in the month of April 2020 declined by 45.7% to
294.8 million from 542.7 million during March 2020. Similarly, the value of transactions at ATMs declined by
48.0% during April 2020 to 21,290.7 billion from 22,484 billion during March 2020. In March 2021, the value
of cash withdrawals returned to pre-COVID-19 (i.e., before April 2020) levels to reach 22,849.4 billion during
March 2021.

The following table sets forth cash withdrawals at ATMs in India from financial year 2020 to 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Month Cash Withdrawals from ATM in Z Billion Month-on-Month Growth %
Apr-19 2,848.0 =
May-19 2,950.8 3.6%
Jun-19 2,837.9 -3.8%
Jul-19 2,825.4 0.4%
‘Aug-19 2,878.6 1.9%
Sep-19 2,741.8 -4.8%
Oct-19 3,160.5 15.3%
Nov-19 2,819.5 -10.8%
Dec-19 2,908.5 3.2%
Jan-20 2,954.6, 1.6%
Feb-20 2,831.6 4.2%
Mar-20 2,484.6 -12.3%
; 7,290.8 5
Aptr20 (Impact of COVID-19 Lockdown) a8
May-20 1,959.0 51.8%
Jun-20 2,294.7 17.1%
Jul-20 2,319.9 1.1%
Aug-20 2,363.5, 1.9%

 

 

 

 

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