PSU banks plan 711 ATMs at stations

Six nationalised banks including Punjab National Bank (PNB) and Bank of Baroda (BOB) will sign a memorandum of understanding (MoU) with Indian Railways tomorrow to set up 711 ATMs at railway stations across the country.

This is the second biggest MoU for the railways after State Bank of India signed an agreement with it in August to install ATMs at 681 stations across the country with e-ticketing facility at 383 major stations in association with the Indian Railway Catering and Tourism Corporation.

Railways would sign the MoU tomorrow with PNB, BOB, Indian Bank, Canara Bank, Dena Bank and Union Bank of India. Out of the 711 ATMs, 473 ATMs will have e-ticketing facilities. PNB and Indian Bank will set up 51 ATMs each.

The ATMs at stations will earn significant revenue for the railways through renting of commercial space to banks.