SBI earned more than ₹2000 crore in five years from ATM
New Delhi| State Bank of India earned around Rs 2043 crore in the five years between the years 2019-20 to 2023-24 by operating ATMs across the country. The government has given this information in response to a question in Parliament. The government has presented before the House the data of five years related to how much income public sector banks earned through ATMs. Lok Sabha MP Mala Roy had asked a question related to this. According to government data, there are only a few banks which are benefiting from operating ATMs. In this matter, State Bank of India, the country’s largest government bank, is at the forefront. On the other hand, most of the banks are suffering losses by operating ATMs.
Due to increase in the prevalence of UPI, people have reduced the use of ATM to a great extent. Despite this, SBI has been successful in earning money by operating ATMs due to its huge network. However, apart from this, fluctuations have been seen in the profits of other banks.
The government has shared in Parliament the figure from 2019-20 to 2023-24 related to the earnings that banks receive from ATMs. Some banks performed well in these five years, while some are poor in this matter. Punjab National Bank is named after State Bank of India among the highest earning banks from ATMs. On the other hand, Indian Overseas Bank and Central Bank of India have suffered losses in this matter.
According to the data, State Bank of India earned Rs 656 crore from the operation of ATMs in the financial year 2019-20. At the same time, Punjab National Bank earned Rs 102.40 crore in 2019-20. Bank of Baroda, on the other hand, suffered a loss of Rs 70.06 crore in 2019-20. The bank suffered a loss of Rs 212.08 crore under this head in 2023-24. Similarly, Bank of India suffered a loss of Rs 129.82 crore in 2019-20, but in 2023-24 the loss stood at Rs 66.12 crore.
Indian Bank suffered a loss of Rs 41.85 crore in 2019-20, rising to Rs 188.75 crore in 2023-24. The Central Bank of India also suffered a loss of Rs 60.26 crore in 2019-20. By 2023-24, this loss reached Rs 195.88 crore. In addition, Union Bank of India earned Rs 3.17 crore in 2019-20 from ATMs. However in 2023-24, the bank suffered a loss of Rs 203.87 crore under this head.
