The Indian ATM industry has witnessed rapid growth in the past decade. In recent years, the RBI has introduced programs designed to reach the nation’s 75,414 villages that have more than 2,000 residents, but no banking services, with the objective that every household in the country should have at least the most basic, no-frills bank account by the end of the year. Currently only three out of five households have an account.
RBI is pushing other programs to bring banking to the masses and one major program is its initiative to increase the number of ATMs available to villagers in rural areas.
With 63 ATMs per million residents, India has per capita ATM penetration of only one for every 15000 people, far lower than developed markets such as United States and the European Union, or neighboring China with one ATM for every 2000 people.
This initiative is expected to increase the Indian ATM density by over 60 percent, helping to meet the goals of financial inclusion and delivery of e-government services directly to citizens.
Within two decades, ATM technology development is happening at an alarming rate. Gone are the days when customers were limited to only withdrawing cash from ATM’s. We have now reached an era, where we can use multi function and biometric ATMs, equipped with touch sensitive and user friendly options to transfer funds, book air and train tickets, go for mobile recharge, and even deposit cheques with scanning.
Growth of ATM Industry :
As per the Global ATM Market and Forecasts to 2016, the maximum growth of ATMs is happening in Asia pacific region. India and Indonesia are having one fourth of the number of ATMs, and china is accounted for half of the New ATMs. Worldwide growth of ATMs is steadily increasing. The growth of ATMs in Western countries and other advanced countries has reached at a mature stage. However; there is a lot of scope of growth of ATM industry in developing countries like India. So what we need thousands of engineers for ATM industry thatwhy GIIT has launched “Certificate in ATM Engineering” with two modules – FLM ( Front Line Maintenance) and SLM (Second Line Maintenance).
Qualification Required :
A student who has passed 10+2 / equivalent can do this course.
ATM education is new & job oriented courses, after completion of this course a student can build their career on National and International level to prove himself with his ability in ATM industry. It is best to learn how to repair computers and office machines in addition to ATM machines to increase the chance of getting a maintenance/repair job. Banks also prefer experienced and trained professionals.