Private lenders expand ATM community, PSU banks reduce

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Mumbai: The share of public sector banks in ATMs deployed within the nation has shrunk as they consolidate their community and push digital providers, whereas personal lenders have been on enlargement mode in a conflict for deposits.
In the 12 months ended Jan 2024, PSU banks shrunk their ATM community by 1,343 to 1,36,173 machines, whereas personal banks added 3,502 ATMs, taking their community to 79,225.
HDFC Bank has mentioned that it plans so as to add 1,500 branches throughout FY25. Other personal banks too have introduced plans for department enlargement.
The discount by PSBs has been largely in offsite ATMs, which have shrunk to 93,381 from 96,243 a 12 months in the past and 87,160 two years in the past. Bankers mentioned that they’re going sluggish on offsite deployment as a result of the cap on expenses doesn’t make it worthwhile to amass prospects of different banks. There can also be uncertainty about new rules which will push up the price of operations.
The common variety of transactions per ATM is round 2,400 and the common withdrawal quantity is Rs 4,918 per transaction.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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