PSU banks need 19,813 more ATMs by March-end to meet target-Business Stadard10.04.2014
Only 14,855 ATMs set up by Dec 2013 against requirement 25,950, which is 75% of target March 2014 target
State-run banks could set up only 14,855 ATMs by December, leaving an uphill task of installing close to 20,000 more cash dispensing machines by March-end to achieve the target of at least one onsite ATM in every branch.
Pursuant to Budget 2013-14 announcement, PSU banks were required to ensure an onsite ATM in all 72,340 branches by the end of the current financial year.
In March 2013, only 37,672 branches had onsite ATMs, and thus 34,668 more were to be installed.
Till December 2013, the state-owned banks could set up only 14,855 ATMs, leaving 19,813 more ATMs that need to be installed in the remaining period.
As per the roll-out schedule of ATM installations, the state-owned banks should have set up 25,950 cash dispensing machines by December 2013 or about 75 per cent of the target.
SBI had put in place 2,266 ATMs till December and has to install 2,221 more by March, 2014, according to the progress report of ATMs installation at all branches of banks.
Allahabad Bank has set up 385 ATMs and is yet to install 2,033 more.
United Bank of India has to to set up 1,044 ATMs to meet the overall target of 1,342.
Bank of India, Indian Overseas Bank, Syndicate Bank and Punjab National Bank need to set up 1,319, 1,004, 1,560 and 1,408 ATMs, respectively.
However, Bank of Baroda, IDBI Bank and Vijaya Bank have to set up only 02, 32 and 39 ATMs, respectively to meet their targetS.
There 26 public sector banks, including country's largest lender State Bank of India and its associates.
Pursuant to Budget 2013-14 announcement, PSU banks were required to ensure an onsite ATM in all 72,340 branches by the end of the current financial year.
In March 2013, only 37,672 branches had onsite ATMs, and thus 34,668 more were to be installed.
Till December 2013, the state-owned banks could set up only 14,855 ATMs, leaving 19,813 more ATMs that need to be installed in the remaining period.
As per the roll-out schedule of ATM installations, the state-owned banks should have set up 25,950 cash dispensing machines by December 2013 or about 75 per cent of the target.
SBI had put in place 2,266 ATMs till December and has to install 2,221 more by March, 2014, according to the progress report of ATMs installation at all branches of banks.
Allahabad Bank has set up 385 ATMs and is yet to install 2,033 more.
United Bank of India has to to set up 1,044 ATMs to meet the overall target of 1,342.
Bank of India, Indian Overseas Bank, Syndicate Bank and Punjab National Bank need to set up 1,319, 1,004, 1,560 and 1,408 ATMs, respectively.
However, Bank of Baroda, IDBI Bank and Vijaya Bank have to set up only 02, 32 and 39 ATMs, respectively to meet their targetS.
There 26 public sector banks, including country's largest lender State Bank of India and its associates.
Deposits grow at 16% vs 14% rise in credit-Business Stadard 10.04.2014
Bank deposits grew at healthy 16% year-on-year to Rs 7,605,171 crore as on February 21
Bank deposits grew at healthy 16% year-on-year to Rs 7,605,171 crore as on February 21, surpassing the pace of credit growth, according to RBI data.
Deposits at commercial banks stood at Rs 6,565,137 crore during the same period last year, the fortnightly data said.
Bank credit grew at 14% year-on-year to Rs 5,861,736 crore as on February 21, as against Rs 5,127,264 crore in the same period last year.
The RBI's estimate of the credit growth for current fiscal, 2013-14, is 15%, while for deposits it is 14%.
During the period, the time deposit grew 16.47% at Rs 6,912,598 crore as against Rs 5,934,640 crore in the same period last year.
Demand deposit rose 10% to Rs 6,92,574 crore from Rs 6,30,497 crore in the year-ago period.
Deposits at commercial banks stood at Rs 6,565,137 crore during the same period last year, the fortnightly data said.
Bank credit grew at 14% year-on-year to Rs 5,861,736 crore as on February 21, as against Rs 5,127,264 crore in the same period last year.
The RBI's estimate of the credit growth for current fiscal, 2013-14, is 15%, while for deposits it is 14%.
During the period, the time deposit grew 16.47% at Rs 6,912,598 crore as against Rs 5,934,640 crore in the same period last year.
Demand deposit rose 10% to Rs 6,92,574 crore from Rs 6,30,497 crore in the year-ago period.
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