ATM Withdrawal Income: The government told the Parliament that by providing the facility of withdrawing money from ATMs to the banks, SBI has earned about Rs 2 thousand crore in the last 5 years. In FY24 alone, State Bank of India (SBI) has earned a profit of Rs 331 crore. However, this is a business in which all the 11 government banks except SBI have suffered losses in FY24. Together, these banks have suffered a total loss of Rs 925 crore.

The Finance Ministry told the Parliament that SBI has earned about Rs 2043 crore from ATM cash withdrawal charges in the last 5 years. It earned a profit of Rs 656 crore in FY20, Rs 228 crore in FY21, Rs 393 crore in FY22, Rs 435 crore in FY23 and Rs 331 crore in FY24.

However, except SBI, all other public sector banks have lost money in the matter of ATM withdrawal in FY24. These banks have incurred a total loss of Rs 925 crore.

Among these big public sector banks, Bank of Baroda has incurred a loss of Rs 212.08 crore, Union Bank of India has incurred a loss of Rs 203.87 crore and Indian Bank has incurred a loss of Rs 188.75 crore. Apart from this, Bank of India has lost Rs 66.12 crore, UCO Bank has lost Rs 61.86 crore and Indian Overseas Bank has lost Rs 53.35 crore.

Let us tell you that SBI has the largest ATM network in the country. There are a total of 216706 ATMs in India, out of which about 65,000 ATMs belong to SBI. This means that SBI has 30 percent market share in the ATM network.

Let us tell you that bank customers can withdraw money 5 times every month without any charge, after which they are charged. On the other hand, if you do this withdrawal from a metro center, then the limit is 3. On an average, more than 1 crore transactions take place every day in the country.

Let us tell you that withdrawing money from ATM is going to be expensive from May 1. Till now, customers have to pay Rs 17 per transaction for withdrawing cash more than the fixed limit, whereas from May 1, it is going to increase to Rs 19.