Public sector banks (PSBs) have been asked to set up automated teller machines (ATMs) at 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 5,999th branch of Punjab National Bank (PNB) at nearby Tirupattur, he said that orders had been issued to all nationalised banks in this regard and their CMDs have been asked to implement the directive in the current financial year (1 April, 2013 -31 March, 2014) itself.
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 in connection with the PNB branch inauguration.
Chidambaram informed that banks have also been directed to disburse crop loans to farmers and offer advances to purchase agriculture equipment.
Inaugurating the 5,999th branch of Punjab National Bank (PNB) at nearby Tirupattur, he said that orders had been issued to all nationalised banks in this regard and their CMDs have been asked to implement the directive in the current financial year (1 April, 2013 -31 March, 2014) itself.
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 in connection with the PNB branch inauguration.
Chidambaram informed that banks have also been directed to disburse crop loans to farmers and offer advances to purchase agriculture equipment.