In an effort to overhaul the status of its ATM machines, State Bank of India is planning to have all of its branches have Automated Teller Machines, even for its wide and far located bank branches. These ATM machines also plan to have cash-depositing machines along with passbook printers. This target is aimed to be met by March month of year 2014, as conveyed by A Krishna Kumar, Managing Director of SBI, to TOI. He further clarified that these ATM would be carrying all the facilities that are majorly taken by bank branches.
Reiterating certain facts like SBI at present has 17,804 on-the-site ATMs; and 13,945 off-the-site ATMs. Additionally, bank has ordered CMS to provide them 7,850 more machines. The installation of an ATM is a viable option for the bank because while a transaction in a branch costs Rs 40, the same transaction comes down to Rs 20 when accomplished through an ATM.