PSU Banks needs to install 19,813 more ATMs to meet target: Media Report

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PSU Banks needs to install 19,813 more ATMs to meet target: Media Report
Public sector bank's could set up only 14,855 ATMs by December, leaving an uphill task of installing close to 20,000 more cash dispensing machines by March-end to achieve the target of at least one onsite ATM in every branch, PTI reported.

Pursuant to Budget 2013-14 announcement, PSU banks were required to ensure an onsite ATM in all 72,340 branches by the end of the current financial year.

In March 2013, only 37,672 branches had onsite ATMs, and thus 34,668 more were to be installed.

Till December 2013, the state-owned banks could set up only 14,855 ATMs, leaving 19,813 more ATMs that need to be installed in the remaining period. As per the roll-out schedule of ATM installations, the state-owned banks should have set up 25,950 cash dispensing machines by December 2013 or about 75 per cent of the target.

Read more about: psu banks
Story first published: Monday, March 10, 2014, 9:10 [IST]
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