Bank of India is proposing to shut 400 ATMs as part of its turnaround plan. It may also take a decision early next year on shutting another 300 ATMs subsequently. The bank had reduced the number of its ATMs from 7,807 in December 2016 to 7,717 in April 2017. The bank’s MD and CEO Dinabandhu Mohapatra had said earlier, the bank is working on a turnaround plan for the last six months following a MoU with the government. As part of this, the bank is giving priority to control costs through rationalization of branches and ATMs and rebalancing the loan portfolio by increasing the share of retail loans.
