BoI to shut 400 ATMs, 300 more under review

At the end of September, Bank of India's gross NPAs stood at 12.62%

State-owned Bank of India will shut 400 ATMs to contain costs as part of a turnaround plan.

The rationalisation of ATMs was a step to manage costs without inconveniencing customers, bank executives said.  

Bank of India will also take a decision by the end of February on closing another 300 ATMs. The bank is analysing customer requirements, usage pattern and location before deciding to close down every ATM.

Bank of India has reduced the number of its ATMs from 7,807 in December to 7,717 in April, according to a presentation on the Bank of India website.

Dinabandhu Mohapatra, managing director and chief executive,