We have all experienced this... When you desperately run to an ATM machine and it is out of service. And this keeps happening very frequently to us. But why? Well, it turns out that a third of the country's cash machines don't work. And this admission comes from none other than the Reserve Bank of India. According to a recent survey conducted by the central bank, almost one third of the ATMs were found to be not working at that point, said RBI deputy Governor SS Mundra.

The survey was conducted at almost 4,000 ATMs across the country with a "sample size fairly representing geographies and bank categories.

Admitting that it is a challenge for provide banking services to millions of poor citizens living in rural areas Mundra said "Survey results are not comforting in any way."
The World Bank estimates that about 53 percent of Indian adults now have access to a formal bank account. Functioning ATMs are seen as vital to driving financial inclusion, particularly in remote areas where banks may not open branches.