 

 

 

 

 

 

Brazil 169,496 79.7 19.9
Russia 131,908 90.3 7.7

Japan 129,680 102.5 343.0
UK 53,813 79.2 221.9

 

 

 

 

Notes: 1. As of March 31, 2020. 2. ATM penetration is number of ATMs per 100,000 people. 3. ATM density is number of ATMs per 1,000
square kilometers. 4. Number of ATMs for India is as of March 31, 2021. The number of ATMs in India exclude white label ATMs.
Source: India ATM Market Outlook to 2026, Ken Research, August 2021.

Cash Withdrawals in India during Financial Years 2019 to 2021
The number of ATM transactions decreased from 8,798.6 million (financial and non-financial transactions) in
financial year 2020 to 6,100.9 million (only financial transactions) in financial year 2021 due to the restrictions.

caused by the COVID-19 pandemic during the financial year 2020.

Cash withdrawals in India increase during the crop harvest season, which is usually between March and April
and again during the festival season in October.

The following chart sets forth the percentage of cash transactions in the overall number of ATM transactions in
the financial year 2021:

   

15.0%

= Cash Transactions

= Non Cash
Transactions

85.0%

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

In March 2021, the number of ATM transactions returned to pre-COVID-19 levels (i.e., levels before April
2020), and the average amount per withdrawal transaction was reported at a high of 74,746, which indicates that
the Indian population has started holding more cash. This implies that cash is still the preferred mode of
transaction, which cannot be substituted by online payments.

The following chart sets forth the transaction amount at ATMs in India from debit cards from financial year
2019 to 2021:

 

 

 

 

 

 

Financial Year
Parameters 2019 2020 2021
No. of Financial Transactions (in Million) 9,859.6 8,788.6* 6,095.7*
Amount in 2 Billion 33,107.8 34,193.8 28,930.9
Average Amount Per Transaction in 2 3,357.9 3,890.6 4,746.0

 

 

 

 

 

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

“RBI has changed reporting of ATM transactions and excluded the following: (1) non-cash withdrawal transactions (such as balance
enquiry, check book request, payment of taxes, funds transfer, etc.) which constitute ‘on-us’ transactions (i.e., when a card is used at an
ATM of the bank which has issued the card) shail not be part of the number of free ATM transactions. 2. Transactions which fail on account
of technical reasons such as hardware, software, communication issues, non-availability of currency notes in the ATM and other declines
ascribable directly/wholly to the bank/service provider and invalid PIN/validations etc. shall not be counted as valid ATM transactions for
the customer. Consequently, no charges therefor shall be levied.

The following chart sets forth the transaction amount at ATMs in India from credit cards from the financial year
2019 to 2021:

 

Financial Year
2019 2020 2021
No. of Financial Transactions (in Million) 9.8 10.0*| 5.14

 

Parameters

 

 

 

 

 

 

 

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