Public sector banks have planned to form a consortium to roll out 5, 500 ATMs across the country in the coming two fiscal years. For this, PSBs have engaged global banking and payments technology provider FIS to set up and manage their ATMs.
It should be noted that last week, Finance Minister P. Chidambaram, had urged public sector banks to increase the number of ATMs in the country to twice the present number of ATMs. Currently, there are about 63, 000 operational ATMs in the country. Finance Minister had also asked PSBs to upgrade the technology used in ATMs so that they can also be used for making deposits.
On their part, PSBs have entered into a multi year agreement with FIS, according to which, the global banking technology provider will render end to end services such as supply, set up and ongoing ATM operations.
The Florida based company, FIS, issued a statement which said, "Currently driving more than 3,500 ATMs across India and operating two of India's four interbank ATM switching networks, the new deployment will significantly expand FIS' business in the country, which is a key market in FIS' international growth strategy."
It is reported that with this initiative, the number of ATMs supported by FIS will increase to twice its present number.