AGS Transact Technologies Faces Financial Turmoil Amid Debt Default and Insolvency Proceedings Aug 18, 2025
AGS Transact Technologies Faces Severe Financial Crisis: Unpaid Salaries and Loan Defaults Jun 17, 2025
AGS Transact Technologies to Divest 90% Stake in Novus Technologies Apr 17, 2025
More news about AGS Transact Technologies
18Mar 25
RBI to Scrutinize Cash Handling Operations of AGS Transact
AGS Transact Technologies Limited, a leading ATM operator in India, will undergo a review of its cash handling operations by the Reserve Bank of India (RBI). This review signals increased regulatory focus on cash management practices in the financial services sector. The scrutiny may lead to enhanced compliance measures, operational adjustments, and increased focus on security and efficiency in ATM management. The outcome could have industry-wide implications, potentially setting new standards for cash handling in the ATM sector across India.
12Mar 25
AGS Transact Technologies Migrates 50% of ATMs to Minimize Service Disruption
AGS Transact Technologies has migrated approximately 50% of its ATMs to banks and Managed Service Providers networks to minimize service disruptions. The company is committed to gradually resuming operations across its network and will continue to evaluate the need for further ATM migrations. This strategic move aims to maintain operations across its extensive ATM network amidst recent challenges in the sector.
11Mar 25
AGS Transact Technologies Swiftly Migrates ATMs to Minimize Service Disruption
AGS Transact Technologies has successfully migrated approximately 50% of its ATM network to banks and Managed Service Providers (MSPs) networks. This strategic move aims to minimize service disruptions and support ongoing operations. The company is collaborating with banking customers for smooth transitions and is committed to gradually resuming operations across its network. Chairman Ravi B. Goyal emphasized the company's dedication to restoring full operational capacity while adapting to current circumstances.
AGS Transact Technologies is facing a severe financial crisis with ₹7.26 billion in defaulted obligations. Creditor Maxwel Aircon has initiated potential insolvency proceedings against the company. The stock has plummeted 62.4% since February 4, reflecting investor concerns. Multiple credit rating downgrades have further complicated the company's financial situation.