BANK NEWS
SBI tops points of sale network list in India
Mumbai . State Bank of India (SBI), the country’s largest lender, now has the largest network of points of sale (PoS) terminals in the country, according to latest data by the Reserve Bank of India (RBI). With this, it has left behind rivals such as HDFC Bank, Axis Bank and ICICI Bank.
PoS means the point, or location, where a sales transaction takes place, such as a checkout line.
According to RBI data, SBI has 296,000 PoSterminals across the country, compared to HDFC Bank’s 281,000, Axis Bank’s 258,000 and ICICI Bank’s 200,000 PoS systems. The four lenders together dominate this space and contribute to three-fourth of the total 1.4 million PoS terminals deployed in India.Business-standard
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