According to the reports it has been noticed that ATM transactions in the previous month has dropped down. The transactions have went down by 9% from 26.8 crore in October 2014 to 24.4 crore in November.
Few months back the RBI has announced to restrict the free ATM transactions. The reports showed that along with higher withdrawals during October-end on account of Diwali, has resulted in lower ATM transactions during November. Axis Bank has 14 million debit card holders and on an average reports six crore ATM transactions every month.
The banks reported that they have noticed a fall down in the ATM transactions. That's not all. NPCI has also reported that there has been a daily dip in ATM transaction volume in November over October to the tune of 6%. More than 90% of the debit card users are making kess than 5 ATM transactions per month.