Prøve GULL - Gratis
Cash crunch at AGS hits banks' ATM ops
Mint New Delhi
|February 14, 2025
A cash crunch at India's second-largest ATM manager AGS Transact has begun to impact cash dispensers of some of India's top domestic banks, after sparking defaults on bank loans, statutory payments and staff salaries.
According to a person aware of the development, banks including ICICI Bank, Axis Bank and Yes Bank are among lenders which have seen some cash dispensers shut. A notice on Yes Bank's website said some of its ATMs were currently unavailable, directing customers to a branch or another ATM.
The person cited above said AGS staffers managing these machines shut them down after their salary dues piled up. Put together, the three banks have over 32,000 ATMs and cash recyclers, as per RBI data, although it could not be immediately ascertained as to how many of these are managed by AGS. The company had 32,151 ATMs and cash recyclers at the end of September.
Denne historien er fra February 14, 2025-utgaven av Mint New Delhi.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Mint New Delhi
Mint New Delhi
Punjab plans EV sops in new industrial policy as states compete for capital
The electric vehicles (EV) sector is expected to take centre stage in Punjab, as the state lines up an expanded package of incentives to attract fresh investments under the new industrial policy that is likely to be launched in January.
2 mins
December 18, 2025
Mint New Delhi
U.S. tanker seizure has paralyzed Venezuelan oil shipping—except Chevron’s
Chevron stands as one of the last big shippers of Venezuelan oil after the U.S. seized a sanctioned tanker last week allegedly carrying the country's crude to the black market.
4 mins
December 18, 2025
Mint New Delhi
India set to sign trade deal with Oman in its Gulf push
Bilateral trade between India and Oman stood at about $10.5 billion in 2024-25
2 mins
December 18, 2025
Mint New Delhi
Trump orders blockade of sanctioned oil tankers in and out of Venezuela
U.S. president's announcement escalates pressure on the country's leader, Nicolás Maduro
4 mins
December 18, 2025
Mint New Delhi
Coverage challenge
Can India's insurance sector help mobilize more long-term capital? How much of a differ- ence will the Centre's proposal of raising its foreign direct investment (FDI) cap to 100% from 74% make?
1 min
December 18, 2025
Mint New Delhi
Mind the gaps: Why India's GDP measurement requires a reset
Next year's base revision offers us a chance to improve data accuracy and five reform measures should help achieve that goal
4 mins
December 18, 2025
Mint New Delhi
Let reforms spur India's corporate bond market
This segment of the debt market has been crying out for help. A Niti Aayog report makes yet another attempt to usher in policy changes that are dearly needed for this worthy objective
2 mins
December 18, 2025
Mint New Delhi
Google Pay eyes credit ecosystem beyond payments
Google Pay has been distributing personal loans on behalf of its lending partners for several years and has now expanded its product suite to include credit cards.
2 mins
December 18, 2025
Mint New Delhi
Tesla commissions 1st charging station
Electric vehicle major Tesla on Wednesday said it has launched its first charging station in Gurugram at DLF Horizon Center.
1 min
December 18, 2025
Mint New Delhi
Vedanta demerger by March: Agarwal
Oil-to-metals conglomerate Vedanta
1 min
December 18, 2025
Listen
Translate
Change font size