PSU banks need 19,813 more ATMs by March-end to meet target

State-run banks 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.

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.

SBI had put in place 2,266 ATMs till December and has to install 2,221 more by March, 2014, according to the progress report of ATMs installation at all branches of banks.

Allahabad Bank has set up 385 ATMs and is yet to install 2,033 more.

United Bank of India has to to set up 1,044 ATMs to meet the overall target of 1,342.

Bank of India, Indian Overseas Bank, Syndicate Bank and Punjab National Bank need to set up 1,319, 1,004, 1,560 and 1,408 ATMs, respectively.

However, Bank of Baroda, IDBI Bank and Vijaya Bank have to set up only 02, 32 and 39 ATMs, respectively to meet their targetS.

There 26 public sector banks, including country's largest lender State Bank of India and its associates.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The survey paints an optimistic future, but sees little scope for a bang

    The Economic Survey, which comes out a day before the Union budget, is widely regarded as its forerunner, an indicator of things to come 24 hours late

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schoettli

The hidden attractions of Japan

We live in the Asian century. During the past two ...

Zehra Naqvi

Star power

Being a part of the generation that gorged on Shah ...

Bubbles Sabharwal

The waking moment decides the day

There was a little girl/ Who had a little curl/ ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture