Analyzing the historical data from 2013 to 2023, the value of ATM cash withdrawals in India experienced fluctuations with significant dips in 2016 and 2020, followed by rapid recoveries in subsequent years. By the end of 2023, the value stood at 462.24 billion USD. The annual growth rates varied, showing significant drops during years of economic challenges. Notably, 2021 saw an impressive recovery with a 30.44% increase, but this was followed by a contraction in 2022. The compound annual growth rate (CAGR) over the last five years shows a moderate 3.12% growth.
The forecasted data suggests a steady increase in the value of ATM cash withdrawals, forecasting a 2.08% compound annual growth rate (CAGR) from 2024 to 2028. Future trends to watch for include the potential impact of digital payment methods and economic policies aimed at reducing cash dependency, which could moderate physical cash withdrawal growth rates.
