![Banks request clarification on procurement norms from RBI reporting lack of ATMs Banks request clarification on procurement norms from RBI reporting lack of ATMs](https://varindia.com/storage/news/2024/06/CExIMP59x31sZAvF9JNdW31Tsu9WMrQgoBRmb15o.jpg)
Citing concerns with vendor capacity, banks have informed the government and Reserve Bank of India about a scarcity of ATMs. Prominent bankers recently convened to deliberate on procurement problems pertaining to the government e-marketplace. Part of the problem stems from the FY20 'Make in India' guidelines, which demanded that merchants set up shop domestically first.
Banks should be allowed to float independent requests for proposals (RFPs) for ATMs if all guidelines are met, the person said. As per the report, bankers have also said that the ATM shortage is impacting them more at a time when they are in the process of migrating to lockable cassette mechanisms in ATMs.
"While this was to be done in a phased manner, we are short of targets, and this could lead to regulatory action, including fines," the bank executive said as per the report, adding, “Poor infrastructure issues, including vaulting arrangements, have also contributed to this delay.”
Manjunath Rao, President-Managed Services & Technology Solutions at CMS Info Systems, said, “Banks, in addition to ATMs, are now installing cash recycling machines to drive higher efficiency and deliver enhanced customer experience. GeM is a robust portal and as banks do a technological refresh of ATMs, we expect the demand to grow, and the industry is ready to meet it.”
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