Public sector lender, Indian Bank has recently launched its first e-banking lounge. The facility was launched by Dr C. Rangarajan, Chairman, Prime's Economic Advisory Council.

The lounge is more of an ATM kind which offers all kinds of services like cash deposit, cash withdrawal, cheque deposit with acknowledgement, Internet banking and touch screen banking for all kinds of transactions.

Mr. Rangarajan said that technology has become an inevitable part of the Indian banking industry.

He however said that every thing has its own sets of pros and cons and so does technological advancement. So, care should be taken that transactions as well as fund transfer activities be accurate, safe and secure.

According to CMD of Indian Bank, Mr T M Bhasin, the bank aims to set up 10 such lounges all over the country in another year.