NEWS & ADVICE : CREDIT CARDS
Bank of India plans to double its ATM network
By Ankit Sharma
Apr 15, 2009
Print    Email    RSS   

State-run, Bank of India (BoI) plans to increase its ATM network across the country during the current fiscal. The bank has decided to double the number from 500 to 1000.

BoI's Executive Director, M Narendra said that presently the bank has around 500 ATMs and it plans to add another 500 during 2009-10. He further confirmed that the RBI's decision on free ATM usage of the third party from April 1st would not affect their expansion plan.

As per the RBI's directive, every transaction conducted by a bank's customer on other bank's ATM costs the lender anywhere between Rs 12 and Rs 18 that cannot be passed onto the customers.

Meanwhile BoI is also not being conservative while issuing new ATM cum debit cards to its account holders in order to reduce its costs. "This card is being issued to every new customer opening an account with us from centralized locations," he said.

Further Narendra said, "A move to issue more ATM-debit cards would lessen the pressure on our branches, most of which handle bulk pension accounts. Such customers insist on personalised care at the counters, and this may eat in to the time of other customers."

He also said that the ATMs can be used for various purposes and added that a majority of the 500 new ATMs will be onsite ATMs.

Narendra added that the bank is also planning to lower its minimum lending rate to 12% following which the deposit rate will also come down.

 


(Comments Posted : 2) Post Your Comments
1. ouself0 test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com test http://test.com
test (Posted: Feb 15, 2010)
2. ZmqDZq thvbonlp qskrtucz mrrvntnt
cialis shop (Posted: Jul 30, 2009)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Deter & detect ID thefts: Keep your...
Internet banking: does it put your money...
Cash-Back offer at Corporation Bank this...
A chronicle of excesses by loan recovery...
Live in Style - Lifestyle credit cards

please provide that my name is defaulter lisst my...
please provide that my name is defaulter lisst my...
please provide that my name is defaulter lisst my...
my name manoj k joshi and my date of birth...
i have forgot my ATM code what shall i do ?
i have cleared all my dues, how to remove my name...

NEWS THIS WEEK
PSBs spend more on wages than private counterparts Sep 7, 2010
Debit card processing should be charged: bankers, retailers Sep 6, 2010
Facelift for rural India Sep 6, 2010
Pre paid cards launched by Central Bank of India Sep 3, 2010
All India bank stirke on September 7 Aug 31, 2010
News Archive