Country's private sector banks appear to be outdoing each other in expanding their ATM network. As on January 2013, the collective ATM network witnessed an average year-on-year growth of 31 per cent.
HDFC Bank is one of the leading private sector banks in expanding its ATM network. It increased its ATM network to 10,583 as on January, 2013 which is up by 44 per cent as compared to 7346 last year.
Mr. Paresh Sukthankar, Executive Director, HDFC Bank, said, "We had fallen short on ATM expansion. So we wanted to catch up. If you look at our transaction pie-chart, a large volume of transactions go through Internet and ATM.
"It is important for us to have adequate number of ATMs. If our customer uses other banks' ATMs, it costs us. So, we certainly want to ensure that our customers use our ATMs."
ICICI Bank and Axis bank's ATM network increased by 26 per cent and 22.6 per cent respectively.