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SBI aims to increase ATM count by 8K new machines

Half of the new machines will feature cash recycling capability, according to a State Bank of India executive.

April 16, 2015

The State Bank of India has announced plans to expand its ATM footprint by an additional 8,000 ATMs, including 4,000 cash recyclers, 2,000 cash dispensers and 2,000 deposit-taking devices.

In a news conference, SBI Group Executive and Managing Director for National Banking B. Sriram said that the bank's current fleet stood at 43,000 machines, dispensing a total of 24 billion rupees ($384.6 million) daily and performing a total of 2.5 billion transactions per month

According to the Indian publication moneycontrol.com, Sriram's comments were made at the launch of a new NCR machine. The article did not indicate the model of the machine, but said that it was manufactured in India and was expected to reduce machine costs by as much as 40 percent. Currently, NCR Corp. claims a 47 percent share of the Indian market, the report said.