New Delhi, March 24 IANS | 8 months ago

Tata Communications Payment Solutions Limited (TCPSL), a wholly-owned subsidiary of Tata Communications, Monday said it has set up its 1,000th Indicash ATM, the country's first white label ATM network, in the national capital region.

The 1,000th automatic teller machine (ATM) was set up at Bhondsi village in Gurgaon, Haryana.

Backed by the $96.79 billion Tata Group, Indicash is aimed at empowering Indians with the convenience to access their own money with ease across cities, towns and villages.

The company is committed to roll out 15,000 ATMs across India by June 2016, with a strong focus on smaller cities, Tata Communications Payment Solutions Limited said in a statement.

India is by comparison an under-penetrated ATM market with just 125 ATMs per million of population (compared to 1,390 in the US, 530 in the UK, and 211 in China).

(Posted on 24-03-2014)

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