More than 15,000 ATM units in India are expected to feature in requests for proposals for cash recyclers. Nearly 77 percent of these belong to public sector banks.
Industry executives said Punjab National Bank, Union Bank of India and Bank of India are among the lenders set to issue the recycler RFPs.
The shift replaces standard cash dispensers with machines that accept deposits as well as dispense notes. The move is expected to improve efficiency for banks handling large volumes of cash transactions.
No timeline for the RFPs has been announced in the reports.