This tip has now become void. On my latest visit to UBL, there were no ATM's in the station premises. One has to walk outside to the market to visit an ATM from PF#1 side. There is an ATM at the GPO nearby which I used.
For more proof, here is the reply from SWR on why there are no ATMs at UBL.
Sir, we tried to open ATM at Hubblli railway station by calling tender. But no bank come forward to open the ATM at railway station.