ATMs to be installed in all SBI Branches by March 2014

Updated: Saturday, November 16, 2013, 15:00 [IST]

The country's largest public-run banking entity, State Bank of India, as per The Economic Times report will deploy ATMs in even the remotest branch by the financial year end. Already revamping its system to transform Automated Teller Machines into Self-service Centres to provide services including passbook printers and cash deposit platform.

Confirming the overhaul, Krishna Kumar, MD of SBI said that the bank targets a thousand ATMs where the self-service kiosks would now replicate some of the bank functions. The MD also commented on the difference in cost at the bank branch and ATM. " The cost of doing a transaction in a bank branch is around Rs. 40 while in an ATM the cost drops down to less than Rs. 20."

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