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Canara Bank ups ATM installation target to 1,000 this fiscal

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ATMCanara Bank has raised its ATM installation target by four times to 1,000 for the current fiscal.

According to Finance Ministry data, Canara Bank had earlier planned to install 250 such machines in 2015-16.

In the first quarter, the bank reportedly installed 506 ATMs, taking its total ATMs to 9,039.

As part of its financial inclusion initiative, the government has been encouraging state-owned banks to strengthen ATM presence.

According to report, 27 public sector banks have plans to set up as many as 15,007 ATMs across the country this fiscal.

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