Highlights

  • Suryoday Small Finance Bank to shut ATMs from October 1
  • Customers can withdraw money from other bank ATMs
  • MD: Futile to run ATMs when use

Latest news

Samsung Galaxy M17 5G Review: Best Budget Samsung Phone Under ₹15,000?

Samsung Galaxy M17 5G Review: Best Budget Samsung Phone Under ₹15,000?

OnePlus 15R first look: OnePlus changes the R-series playbook

OnePlus 15R first look: OnePlus changes the R-series playbook

India's retail inflation rises to 0.71% in November

India's retail inflation rises to 0.71% in November

Cabinet approves CoalSETU window for auction of coal to boost industrial use and export

Cabinet approves CoalSETU window for auction of coal to boost industrial use and export

Cabinet approves Minimum Support Price for Copra for 2026 season

Cabinet approves Minimum Support Price for Copra for 2026 season

Fire never left: Vinesh Phogat comes out of retirement, targets LA Olympics

Fire never left: Vinesh Phogat comes out of retirement, targets LA Olympics

Flexible office segment in India set to grow faster, over 25% annually by 2027: Report

Flexible office segment in India set to grow faster, over 25% annually by 2027: Report

Rahul Gandhi flags issue of air pollution, seeks discussion in Lok Sabha

Rahul Gandhi flags issue of air pollution, seeks discussion in Lok Sabha

This bank has shutdown its ATMs due to low usage

The small finance bank said s not many people were using their ATMs, so it became a viability issue.

This bank has shutdown its ATMs due to low usage

Suryoday Small Finance Bank informed its customers on Tuesday that it will shut down its automated teller machines (ATMs). The bank said it will give users the option to use their debit card at ATMs of other banks as the bank will shut down its ATMs from October 1.

In a testament of a big move to digital transactions, the small finance bank said that ATM usage had dropped drastically and it was not viable to run the cash vending points. The MD of the bank was quoted as saying "We realised that far too many customers were not using our ATMs, we could not make it a profit centre, hence we decided that we give customers free transactions on other bank ATMs rather than continuing to keep these machines".

Suryoday Small Finance Bank has 26 ATMs and 550 branches.

ADVERTISEMENT

Up Next

This bank has shutdown its ATMs due to low usage

This bank has shutdown its ATMs due to low usage

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

RBI raises FY26 GDP growth projection to 7.3 pc

RBI raises FY26 GDP growth projection to 7.3 pc

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

ADVERTISEMENT

editorji-whatsApp

More videos

Reliance completes merger of Star Television Productions with Jiostar

Reliance completes merger of Star Television Productions with Jiostar

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

Nifty hits record high after 14 months; Sensex nears all-time peak

Nifty hits record high after 14 months; Sensex nears all-time peak

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

India signs one-year deal to import 2.2 million tonnes of LPG from US

India signs one-year deal to import 2.2 million tonnes of LPG from US

India International Trade Fair begins at Pragati Maidan amid tight security

India International Trade Fair begins at Pragati Maidan amid tight security

Stock markets decline in initial trade on foreign fund outflows, weak Asian peers

Stock markets decline in initial trade on foreign fund outflows, weak Asian peers

Amazon to lay off 30,000 office workers amid AI-driven cost cuts

Amazon to lay off 30,000 office workers amid AI-driven cost cuts

US sanctions on Russian firms to hit Reliance; PSUs likely to keep buying Russian oil via traders

US sanctions on Russian firms to hit Reliance; PSUs likely to keep buying Russian oil via traders

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.