Aiming to trim financial burden, SBI to open 5K new
ATMs
01/07/2014 17:25
Even as the uncertainty over charging users for ATM transactions continues, nation's largest lender State Bank of India today said it will be launching up to 5,000 new ATMs this fiscal, reported PTI. The move is aimed at helping improve the debit cards-to-ATMs ratio for the bank and may also possibly help it save money expended on ATM interchange fees, as per the media reports. "We are planning to add about 3,000-5,000 ATMs this fiscal," managing director for national banking A Krishna Kumar told reporters on the sidelines of a bank event. He said the number could also go up as it is the availability of the required number of machines which is the biggest issue when it comes to increasing the network. According to media reports, the bank closed FY14 with 43,515 ATMS and in spite of the large network, had paid an interchange fee of a whopping Rs 991 crore to other banks as the number of its customers using other bank ATMs was more than customers of other banks making use of the SBI network.
01/07/2014 17:25
Even as the uncertainty over charging users for ATM transactions continues, nation's largest lender State Bank of India today said it will be launching up to 5,000 new ATMs this fiscal, reported PTI. The move is aimed at helping improve the debit cards-to-ATMs ratio for the bank and may also possibly help it save money expended on ATM interchange fees, as per the media reports. "We are planning to add about 3,000-5,000 ATMs this fiscal," managing director for national banking A Krishna Kumar told reporters on the sidelines of a bank event. He said the number could also go up as it is the availability of the required number of machines which is the biggest issue when it comes to increasing the network. According to media reports, the bank closed FY14 with 43,515 ATMS and in spite of the large network, had paid an interchange fee of a whopping Rs 991 crore to other banks as the number of its customers using other bank ATMs was more than customers of other banks making use of the SBI network.
