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CATMI wants ATM fee structure to change

The Confederation of ATM Industry (CATMI) wants the current fee structure in the ATM industry to be changed, which it says is leading to losses for the ATM deployers. It wants RBI to intervene and correct the fee structure. It also says the latest directive from the RBI to reconfigure ATMs will lead to higher losses for the industry, which is already suffering from the unviable fee structure. It said meeting the RBI directive will be contingent solely on banks taking on the additional cost, as this will increase operational cost by 40%. The 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 current transaction fee of Rs 15 was fixed in 2012.

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