State Bank Of India

In a bid to ramp up its existing network, State Bank of India (SBI) is looking to add another 8,000 ATMs for both accepting and dispensing cash. Of total, the bank will add 4,000 recyclers, which do both cash dispensing and deposits. Apart from that, the bank is also planning to install 2,000 cash dispensers and 2,000 cash deposit machines.

Currently, the bank has an ATM network of 43,000 of its own, which dispense an average of Rs 2,400 crore in cash per day through 25 crore transactions per month.

The RBI last November had capped the number of free transactions a month to five, with a charge Rs 20 for every subsequent transaction, thus ending months of uncertainty.