The banking system in India notched a whopping one lakh plus Automated Teller Machines (ATMs) in the country, with public sector banks accounting for a lion's share.

According to the latest data released by National Payments Corporation of India (NPCI), the total number of ATMs in the country is now 1,04,500 till October.

Of these, 61,500 - or 59 per cent - belong to the public sector banks and State Bank of India Group, the NPCI said.

Private sector and foreign banks together have installed 41,800 ATMs, or 40 per cent. The remaining one per cent or 1,150 ATMs are of small, co-operative or rural banks.

All public sector banks in India are part of the NPCI since June 2010. NPCI said that all the banks put together have plans to install an additional one lakh ATMs over the next two years.

This would raise the number of ATMs per million population from the present 85 to about 170 ATMs, or more than double, the NPCI said.

NFS facilitates routing of the ATM transactions through inter-connectivity between the bank's systems, thereby enabling the ATM/debit card holders to utilise the services of any ATM of a connected bank.

NFS processes over 200 million transactions every month.

Keywords: banking system, Automated Teller Machines ,ATMs,public sector banks ,accounting for a lion's share,National Payments Corporation of India ,NPCI,public sector banks , State Bank of India Group,Private sector, foreign banks,rural banks, million population,NFS facilitates , ATM transactions , bank's systems, debit card .