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June 19, 2001
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Money > Reuters > Report June 19, 2001 |
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SBI to operate inter-city ATM networkThe State Bank of India said on Tuesday it would link up its automated teller machines among seven major cities for the first time this week. "For the first time, SBI will have cross-city connectivity for its ATMs. The chairman, Janki Ballabh, will inaugurate the central ATM network on Wednesday in Calcutta," an official of the bank told Reuters. SBI, the country's largest commercial bank, plans to connect a further 43 cities in the next six to nine months through its central ATM network, the official said. He added that 100 ATMs in New Delhi, Bombay, Calcutta, Pune, and Madras, Hyderabad and Bangalore would be interconnected first so customers in one city could use ATMS in the other six to carry out transactions. A SBI statement said the bank eventually plans to bring all the 400 cities where it has branches under its centralised ATM network but did not give a timeframe. SBI will release its 2000-2001 (April-March) and fourth-quarter results on Thursday. A Reuters poll last Friday forecast SBI's January-March profit would fall 27.43 per cent to Rs 6.88 billion over the same period last year.
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