Last day it has been reported that State Bank of India will be establishing 5000 new ATMs across the country this fiscal year. Deputy Managing director of the bank stated that this addition of the ATMs will help them to enhance the ratio of debit cards to ATMs in the country.
It has been also reported that per ATM SBI has approximately 2500 cards ratio, while the other banks have 1500, 1700 ratio. Due to the high ratio SBI ATMs have long queues and many a times users go to other bank ATMs to make the transactions due to which bank needs to pay, so to cope up with this bank has decided to add more ATMs across the country.
On the other hand bank is also focusing on the expansion of the branch network, bank will also adding 1,000 branches by the end of this fiscal year. Bank wants to raise its network of point- of-sales machines as well.