Financial Daily from THE HINDU group of publications
Sunday, Nov 27, 2005
Financial Daily from THE HINDU group of publications Sunday, Nov 27, 2005 |
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Money & Banking
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Information Technology 57 pc of ATMs in offsite locations Our Bureau
Chennai , Nov. 26 MORE than half the ATMs in the country are now established offsite or away from the branches. Nearly 10,000 ATMs, or about 57 per cent of the 17,642 ATMs that have been set up till March 2005 are in offsite locations, while the balance are onsite (inside or adjacent to branches). According to statistics provided by the RBI report , there is a slight difference in strategy with regard to ATM network establishment and expansion even among public sector banks. While the State Bank group has established nearly 70 per cent of its 5,220 ATMs offsite, the other nationalised banks have set up only about 32 per cent of their ATMs in offsite locations. Among new private banks, UTI Bank had the highest ratio of offsite ATMs. One thousand three hundred and thirty of its 1,599 ATMs were in offsite locations. The bank has 247 branches. ICICI Bank had 1,341 of its 1,910 ATMs at offsite locations. The bank has 508 branches.
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