Card payment push may cause loss of â¹3,800 cr to banks: SBI
SBI has said in a research report that banks may lose â¹3,800 crore annually due to investment in card-swipe machines, as costs outstrip revenues. After demonetisation, the number of point-of-sale (PoS) terminals increased from 13.8 lakh in March 2016 to 28.4 lakh as of July 2017. On an average, banks are installing 5,000 PoS per day.