Private lenders expand ATM network, PSU banks reduce

Mar25,2024



Mumbai: Public sector banks' share in ATMs deployed in the country has declined as they strengthen their networks and grow digital servicesWhile private lenders are on expansion mode in the war for deposits.
In the 12 months ending January 2024, PSU banks downsized ATM network While 1,343 to 1,36,173 machines private bank 3,502 ATMs were added, taking their network to 79,225.
HDFC Bank has said that it plans to add 1,500 branches during FY2025. Other private banks have also announced schemes branch expansion,
decrease by public sector banks The bulk has been in offsite ATMs, which have declined to 93,381 from 96,243 a year ago and 87,160 two years ago. Bankers said they are going slow on offsite deployment as capping fees makes it no longer profitable to acquire customers from other banks. There is also uncertainty regarding new rules which may increase the cost of operations.
The average number of transactions per ATM is around 2,400 and the average withdrawal amount is Rs 4,918 per transaction.



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