ATMs prove to be money-spinner for Namma Metro

While queues grew outside Automated Teller Machines (ATMs) across the City since the announcement of demonetisation, cash withdrawal proved to be easy affair for Metro commuters.

Published: 26th December 2016 03:41 AM  |   Last Updated: 26th December 2016 03:45 AM   |  A+A-

Express News Service

BENGALURU: While queues grew outside Automated Teller Machines (ATMs) across the City since the announcement of demonetisation, cash withdrawal proved to be easy affair for Metro commuters. There are 33 ATMs operational across the 30 stations opened to public across the East-West and North-South corridors which had enough cash in them.

A spot marked to set up an ATM
kiosk at Cubbon Park Metro Station |
PUSHKAR V

Not only have these ATMs proved very useful for commuters, the rentals paid by banks for the ATMs are proving to be an attractive source of income for Bangalore Metro Rail Corporation Limited (BMRCL). The revenue earned each financial year by Metro through them is almost `2 crore.
General Manager, Finance (Taxation & Resources) U A Vasanth Rao, said, “This is beneficial for banks as well as BMRCL. We get a total monthly rent of `7 lakh for the 5x5 space we have rented out for 33 ATMs now which is a good income. Banks have an advantage of getting a location with inbuilt facilities.”
Elaborating, Rao said that security staff are present across all stations and so banks need not spend extra on deploying four security personnel round-the-clock as is being done at kiosks across the city. Banks can save on CCTV expenses too as all stations have them.

“The need to provide lighting and air-conditioning too can be dispensed with by banks as all Metro stations have all these facilities,” he said. The additional advantage is that the banks get an option of having these machines in a prime location like a Metro station which has a constant stream of people”, he said.

The first ATM machine was installed in October 2011 at M G Road when the stretch between Baiyappanahalli and M G Road became operational. ATMs of ICICI Bank, Kotak Mahindra, HDFC, Canara Bank and Yes Bank can be spotted across Metro stations presently. Except the ones at the M G Road Metro station, all ATMs are located at the entrance and exits of the station or the concourse area so that they are not exclusive to Metro commuters.

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