• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Oct. 26

The Oriental Bank of Commerce, Indian Bank and Corporation Bank business alliance is looking to share payment modes and launch a joint credit card.

Speaking to reporters Mr B. Sambamurthy, Chairman and Managing Directorof Corporation Bank, said the new initiatives could be operational by November. To begin with, cheques and drafts of the three partners will be accepted in select branches of other banks and help extend reach. "We are looking at what additional revenue we can generate and what new products we can create," Mr Sambamurthy said.

The alliance is also looking to launch a common credit card with a credit card company. Of the three only Indian Bank has a credit card. "We may even set up a common subsidiary for the credit card," Mr Sambamurthy said.

The technical integration of the ATMs of the three banks is also complete. "Probably in a week's time customers can access our ATMs," Mr Sambamurthy said.

Related Stories:
Banking by collaboration

More Stories on : Alliances & Joint Ventures | Public Sector Banks | Oriental Bank of Commerce

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee gains 11 paise

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line