Country's largest lender, State Bank of India is aiming to acquire 50,000 Point-of-Sale (PoS) machine in next 18 months as they want to upgrade their technological infrastructure. And they also want to improve the speed of customer handling at branches and merchant locations.
SBI has 14,100 branches across India and around 28,000 ATMs. The associate banks of SBI have 4,500 branches in India.
The bank has a single window operator counter know as Green Channel at their branches through which there can be withdrawal and deposit up to Rs. 40,000. However, SBI is planning to extend these terminals to enlarge the type of transactions.
The transactions would also include bill payment, ticketing (bus/air/train), mobile top-up, gold coin sale, business activity by merchants, etc.
At present, there are around 200 million customers and among them 35% of the transaction is done through other channels like ATMs, internet, mobile, PoS terminals, etc.