State-run Corporation Bank plans revealed its plans to roll out a new facility, ‘E-payment through ATM' for its customers.

The facility will help the customers of the bank to pay various taxes (like income tax, fringe benefit tax, securities transaction tax (STT), gift taxes; etc at anytime from anywhere.

It is expected that the bank will roll out the new product within next two weeks.

The new facility will be an additional source of revenue for the bank. The bank will earn a revenue of Rs. 0.11 per payment made.

Commenting on the prospects of the initiative, JM Garg, chairman and managing director, Corporation Bank, said, "We estimate that nearly 10 lakh of them will avail the facility initially. However, the facility is being made available for any taxpayer, disregard of the fact if they are our customer."

He added that bank has a customer base of one crore, of which 35 lakh are from the tax-paying community.

During the first quarter of the current fiscal, the total business of the bank crossed Rs 1 lakh crore.

The bank plans to scale up its branch network by adding about 100 branches during the current fiscal. During the first quarter of the year, the bank opened 25 new branches.

The bank also plans to recruit plans 1400 staff members during the current fiscal.