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Banks to set up 711 ATMs at railway stations

Six nationalised banks have signed a memorandum of understanding (MoU) with Indian Railways to set up 711 ATMs at 473 railway stations across the country.

Earlier State Bank of India had signed an agreement in August 2006 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.

Six nationalised banks include Punjab National Bank (PNB), Bank of Baroda (BOB), Indian Bank, Canara Bank, Dena Bank and Union Bank of India. Out of the 711 ATMs, 473 ATMs will have e-ticketing facilities.

Canara Bank would set up 225 ATMs, followed by Bank of Baroda (201), Dena Bank (117), Union Bank of India (66), PNB (51) and Indian Bank (51).

This is part of ministry of railways drive to convert stations into a travel-cum-business point. Each year crores of people use railways, one of the cheapest modes of transport, to commute to different places across the country. The ATMs at stations will earn significant revenue for the railways through renting of commercial space to banks.

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