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Business & Finance

SBP Special ATM Monitoring exercise bears results

  • Consequently, the joint efforts of SBP and commercial banks saw an average of 96.5 percent uptime recorded in ATM services during Ramadan and Eid-ul-Fitr.
Published May 25, 2021
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State Bank of Pakistan (SBP) Special ATM Monitoring exercise during Ramadan and Eid-ul-Fitr is bearing dividends as the number of transactions and uptime improves considerably.

SBP said that it has been taking a number of steps in collaboration with commercial banks in order to ensure maximum availability of ATM related services to its customers especially during Ramadan and long holidays including Eid and other festivals.

Consequently, the joint efforts of SBP and commercial banks saw an average of 96.5 percent uptime recorded in ATM services during Ramadan and Eid-ul-Fitr. This further improved to 98pc uptime, during the Eid-ul-Fitr holidays.

In addition, a record Rs.827.2 billion were withdrawn through 63.2 million transactions during Ramadan and Eid holidays, whereas Rs.137.8 billion were withdrawn through 11.6 million transactions during Eid holidays only.

SBP initiated a Special ATM Monitoring exercise during the holy month of Ramadan and on long EId-ul-Fitr holidays keeping in view the high demand for cash. In this regard, a dedicated team within SBP was formed to oversee the nationwide ATM Operations of all banks through both On-site and Off-site inspections and monitoring.

SBP teams received more than 500 complaints from public. SBP said that the ATM uptime has also been encouraging as it was difficult for banks to mobilize ATM Monitoring teams on-ground for rectification of issues because of mobility restrictions and issues related to the availability of spare parts due to closure of markets etc.

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Azam khan May 25, 2021 11:31am
Why has the state bank and commercial banks limited the bank to bank money transfer through ATM to Rs.50 thousand only ???????
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Bilal samad May 26, 2021 05:20am
Hi
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