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ATM deficit likely

sbPublic sector banks in the country have been able to set up only 14,855 ATMs by December 2013 and these banks will be required to establish some 20,000 more ATMs by end of March 2014 to meet the government stipulated target of one onsite ATM per branch. The banks were required to have at least one ATM in the 72,340 braches they have together by the end of the financial year 2014 and in March 2013, only 37,672 branches had onsite ATMs, thus leaving a deficit of 34,668 ATMs. The State Bank of India had set up 2,266 ATMs till December and has to install 2,221 more by March 2014. 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.

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