Financial Daily from THE HINDU group of publications
Tuesday, Jun 29, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 29, 2004 |
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Money & Banking
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Public Sector Banks Indian Bank to share ATMs with Andhra Bank Our Bureau
Chennai , June 28 INDIAN Bank and Andhra Bank signed an agreement on Monday to share their automated teller machine (ATM) facilities following which their customers jointly gain access to 390 of them across the country. At a press conference , the Indian Bank's Chairman and Managing Director, Mr M.B.N Rao, said following the development Indian Bank customers gained access totally to about 3,090 ATMs because of similar deals with nine other banks. The Andhra Bank's Chairman and Managing Director, Mr T.S Narayanasami, said the bank would soon sign a similar deal with Corporation Bank. Currently, Andhra Bank has ATM sharing agreements with UTI Bank, HDFC Bank, Indian Bank and IDBI Bank. Mr Rao said Indian Bank planned to launch debit cards by August in association with MasterCard. He added that the bank hoped to enter into more ATM sharing arrangements in future.
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