NEWS & ADVICE : FIXED DEPOSITS
Banks failed in achieving their target to set up ATMs.
By Neelima Shankar
Jun 19, 2014
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According to the reports 18 PSU banks have failed in setting up the number of ATMs they have decided to set up by the end of the 2013-14. SBI and PNB are two leading banks among them.

As per the plan a total of 34,668 onsite ATMs were to be installed by PSU banks during the last fiscal, but the banks failed to set up these many ATMs leaving nearly 9,300 branches without the ATM machines. As per the records the banks have failed in established 9,337 less ATMs machines.

The Installation of the ATMs by the PSU banks is a major task of the govt. to ensure the financial inclusion. Allahabad Bank was yet to set up 1,950 ATMs, Central Bank of India 1,620, Syndicate Bank 1,085 etc. Financial inclusion plan aims to provide banking service in all the areas of the country especially the devoid and unbanked areas. There are roughly about 1.4 lakh ATMs of public and private sector banks in the country.


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