Financial Daily from THE HINDU group of publications
Saturday, Jul 26, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 26, 2003 |
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Money & Banking
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Information Technology Shared ATMs of 5 PSBs take off today Our Bureau
Chennai , July 25 ABOUT three million customers of five banks — Bank of India, Indian Bank, Union Bank of India, United Bank and Syndicate Bank — will have access to all the ATMs of all the five banks from tomorrow, when the `shared ATM network' of the five banks, interlinked by the switch provided by India Switch Company, is to be launched. "This is the first of its kind among the PSU banks who have taken a customer-centric initiative to share their IT resources," says Mr D. Krishnamurthy, General Manager, Bank of India. The banks have a common logo for this service, called "CashTree". This logo will be displayed in all the member Banks' ATMs additionally so that the customers can easily identify and do the transactions. The network will provide about 500 ATMs to its clients now to start with. "More banks are likely to join the network in the next one month and will make available about 1,200 common ATMs for all their clients", Mr Krishnamurthy has said.
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