The Public Sector Banks (PSBs), through 6 Lead Banks, had finalized the award of contract to vendors in 16 geographical clusters for installation of ATMs on Transaction Price basis.

An Oversight and Implementation Committee of the 6 lead banks was also constituted to resolve all technical issues related to integration between all PSBs/RRBs and the selected vendors and also to oversee and monitor the ATM rollout as per Plan.

In its meeting held on 5.3.2013, the Oversight and Implementation Committee of the 6 Lead Banks, while reviewing the progress of ATM Roll-out have, inter alia, observed that the performance of three vendors, including the one responsible for Uttar Pradesh, was found unsatisfactory and has advised banks to take necessary remedial measures, including termination of contract of the vendors, if required.

This was stated by Minister of State for Finance, Shri Namo Narain Meena, in written reply to a question in the Lok Sabha today.

DSM/RS/rs

(Release ID :95147)

Vendor performance oversight prompts remedial measures including possible contract termination for ATM vendors after unsatisfactory rollout. An Oversight and Implementation Committee of six lead banks monitoring ATM rollout found three vendors performing unsatisfactorily, including the vendor for Uttar Pradesh, and advised banks to take remedial measures, including termination of contracts where required.