CMS Infosystems, the top cash logistics business in India, announced on Monday that the average monthly cash withdrawals from ATMs increased by 5.51% to Rs 1.43 crore in FY24.
The corporation stated in an annual report that the average monthly cash withdrawal from automated teller machines (ATMs) was Rs 1.35 crore in FY23. This information comes despite greater advancements being made by digital payment methods like UPI, which have given rise to the idea of a fall in the use of cash.
According to the report, the average amount of cash withdrew rose by 10.37% in the metros, 3.94% in SURU (semi-urban and rural areas), and 3.73% in semi-metros.
According to a study from the business that oversees almost half of the ATMs in the nation, ATM cash withdrawals have increased by 37.49 percent in urban areas and by 12.50 percent in SURU.
For state-run lenders, forty-nine percent of their ATMs are in metropolitan and urban regions; for private sector lenders, the same percentage is sixty-four percent; the remaining ATMs are spread among semi-urban and rural locations for both generations.
According to the survey, Karnataka topped the nation in terms of total ATM withdrawals, with an average of Rs 1.83 crore annually. Delhi and West Bengal came in second and third, respectively, with Rs 1.82 crore and Rs 1.62 crore.
The 'Unfolding India's Consumption Story' research revealed that the media and entertainment sector had a 29.30% gain in average expenditure in FY24, while the spending on fast-moving consumer goods saw a 16.76% increase in FY24 following a 21.94% fall in FY23.
