All bank branches to have one ATM before March, 2014: FM

Public sector banks have been asked set up ATMs in all branches by March, 2014 to enable customers in rural pockets to do banking round-the-clock, Finance Minister P Chidambaram has said.

Inaugurating the 5999th branch of Punjab National Bank at nearby Tirupattur, he said orders had been issued to all nationalised banks in this regard and their CMDs had been asked to implement the same in the current financial year.

The Finance Minister has also asked banks to take steps to set up 8,000 branches in the country, especially in rural areas. Last year 6,000 branches were opened, he said while speaking at a function last night in connection with PNB branch inauguration.

He said banks had also been directed to disburse crop loans to farmers and offer advances to purchase agriculture equipment.