RBI regulations stifle ATM expansions

September 5, 2006

Financial Express (Mumbai): The Reserve Bank of India (RBI) has clamped down on the ATM expansion plans of private and foreign banks in the current financial year. Banks impacted by the move include Standard Chartered Bank, HSBC, ABN Amro Bank, ICICI Bank, HDFC Bank and IDBI Ltd. At present, India has over 30,000 ATMs.