New Delhi: The average hits on an SBI ATM have increased from 130-140 per day to 300 and to counter this rush SBI is planning to open another 10,000 to 15,000 ATM's over the next 3 years.

Mr. S.K. Sehgal GM-IT, State Bank of India speaking at a banking technology seminar justified this increase, “In peak days, about 25 mln transactions take place through ATM counters while the average is 16-18 mln daily."

State Bank of India (SBI) India's largest bank currently has a network of 7200 ATMs spanning the entire country. 2,700 new spots have been identified by SBI for setting up the new ATMs. The cost of an ATM machine has reduced significantly and it is now available at a price of Rs 4,00,000 as against Rs 10,00,000 a few years back.

ICICI Bank, the country’s second largest lender and the largest private sector bank, recently received an approval from RBI to open 1,200 ATMs and 425 new branches in India. "We have also tied up with Indian Railways to set up ATMs in 700 railway stations,” Sehgal said.