Government banks locked 5500 ATMs and 600 branches

New Delhi, Aug 22, 2019, Thursday

Government banks have started shutting down ATMs in big cities to reduce their spending.

While urban consumers are also making full use of net banking, banks are now arguing that the cost of additional branches and facilities like ATMs is becoming increasingly expensive.

A total of 5500 ATMs and 600 branches across the country have been closed by 10 government banks across the country. The report has also been published in a business news paper. It said that due to the increasing proportion of bad loans, it was difficult for banks to reduce costs. Has been

SBI has closed 420 branch 768 ATMs and Bank of Baroda 40 branch and 274 ATMs. Apart from this, Punjab National Bank, Central Bank of India, Canara Bank, Bank of India, Indian Overseas Bank, Union Bank and Allahabad Bank.

On the one hand, government banks are reducing ATMs, while private banks are increasing ATMs.