Public Sector Banks (PSU banks) are planning a major upgrade of around 15,000 old ATMs across the country. The main goal is to improve customer convenience and make digital banking faster, smarter, and more secure. With this upgrade, customers will be able to access more banking services directly through ATMs.
Old ATMs Will Be Replaced with Modern Machines
PSU banks will replace many old and slow ATMs with modern ATM machines and Cash Recycler Machines (CRMs). Instead of being used only for cash withdrawals, these upgraded machines will work like mini bank branches. India already has a large ATM network connected through the National Financial Switch (NFS), which is operated by the National Payments Corporation of India (NPCI).
Public Sector Banks (PSBs) in India operate around 1.31 lakh (1,31,394) ATMs. This accounts for over 63% of all ATMs in the country.
Major public sector banks have the following ATM counts in their networks:
- State Bank of India (SBI): ≈ 63,580 ATMs/ADWMs
- Punjab National Bank (PNB): 11,065 ATMs
- Bank of Baroda (BoB): 10,000+ ATMs/Cash Recyclers
- Canara Bank: > 11,000 ATMs
- Union Bank of India: 8,700+ ATMs
New Features in Upgraded ATMs
The upgraded ATMs will provide several new services to customers. Cash Recycler Machines will allow customers to both deposit and withdraw cash from the same machine. UPI-based cash withdrawal will enable cardless cash withdrawals using a mobile phone. The new machines will also have better security features to reduce fraud and protect customer money.
Customers will also experience faster transaction processing, making cash withdrawals and other banking services quicker. In addition, the ATMs will offer multiple services such as balance enquiry, mini statements, fund transfers, and other basic banking facilities.
Who Will Benefit the Most?
The ATM upgrade will benefit millions of PSU bank customers across India. People living in rural areas and small towns, where bank branches are limited, will find banking much easier. Small business owners and people who frequently deal in cash will also benefit from these modern machines. Customers who do not regularly use digital banking services and depend mainly on ATMs will gain access to more banking facilities without visiting a branch.
Why Banks Are Upgrading ATMs
Many existing ATM machines have become outdated and slower over time. Although digital payments have increased in recent years, cash transactions continue to be important for millions of people. Banks are adopting Cash Recycler Machines because they help improve customer service while also reducing operating costs.
Customers Will Need Fewer Branch Visits
After the upgrade, customers will not need to visit bank branches for many routine banking activities. The new ATMs will work as 24×7 mini bank branches, allowing customers to withdraw cash, deposit money, transfer funds, check account balances, print mini statements, and use several other banking services at any time.
