As 300 mn ready to enter banking net, ATM makers prepare for the party

By 2017, the installed base of these machines in India will reach 400,000, from about 100,000 in the third quarter of 2012

The big challenge, says Karthik Ganapathi, vice-president of automated teller machine (ATM) maker Diebold's South Asia business, is that India will bring some 300 million people into the banking system for the first time over the next few years. "That's (almost) larger than the population of the United States," he adds, to put the number into perspective.

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