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Finance Ministry Asks Public Sector Banks to Ramp Up Rural ATMs

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Finance Ministry recently asked state-run banks to expedite installing automated teller machines (ATMs) in rural areas, which is falling short of the budget target.
Against the target to install 34,668 by the end of March 2014, the public sector banks have put up only 5,726 ATMs by end of August.

In his budget speech, Union Finance Minister P Chidambaram had announced that all the branches of the 26 public sector banks will have an ATM by end of March 2014 and accordingly over 34,000 branches were identified.
3.16 crore financial inclusion accounts have already been opened and 62,000 business correspondents have been appointed.

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