The Union Finance Ministry has asked State-run banks or public sector banks to speed up installation of automated teller machines (ATMs) in rural areas, which is falling short of the budget target. Against the target to install 34,668 by the end of March 2014, the public sector banks have put up only 5,726 ATMs by end of August.
This was disclosed by Snehalata Srivastava, the Additional Secretary in the Department of Financial Services in Mumbai on October 9.
Speaking about the government’s ambitious direct benefit transfer scheme, wherein the government is aiming to transfer the subsidies directly into bank accounts of the beneficiaries to avoid pilferage, she said Rs 564 crore has been transfered to beneficiaries through 10 million transactions.
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