After the country’s largest lending bank State Bank of India, SBH has decided to charge more for the ATM transactions. It has been reported that under the minimum wage act bank is suppose to provide Rs 15,000 to watchman per shift that accounts for 45,00-(for 3 shifts).
Bank is having a huge ATM network. There are approximately 2,000 ATMs. To manage all ATMs the bank needs an expenditure of Rs 90 crore which quite high and difficult to manage for the bank. To combat with this problem bank will charge more for ATM transactions.
In order to manage this more economically bank is foreseeing to shut down the ATMs at night this would require them to pay the guards only for 2 shifts. As per instructed by the government bank has already appointed guards in Karnataka and Maharashtra. Bank is also planning to provide pass-book printer service at the ATM centers.