Why Are ATMs Closing in India? | Digital Payments Impact | Sanskriti IAS

Why Are ATMs Closing in India? | Digital Payments Impact | Sanskriti IAS

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📢India’s rapid shift towards digital payments like UPI, mobile banking, and QR-based transactions is transforming the banking ecosystem.
According to recent data, India has 2.51 lakh ATMs, yet 2,360 ATMs were closed in just one year, with private banks shutting down the highest number.

👉 Why are ATMs closing in India?
👉 How digital payments are reducing cash dependence
👉 UPI growth vs ATM usage trends
👉 Why private banks are leading ATM closures
👉 Is India truly becoming a cashless economy?

📌 Important for UPSC, Banking Exams, Current Affairs, and Indian Economy analysis
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