Bank, Delhi Metro tie up
23 February 2002
Corporation Bank has signed an agreement with the Delhi Metro Rail
Corporation (DMRC) for installing ATMs at the proposed Mass Rapid
Transport System (MRTS) stations in Delhi.
to a Corporation Bank press release issued here, the agreement was
signed by Corporation Bank general manager (Delhi zone) M V Nair
and DMRC director (finance) R N Joshi in New Delhi on 21 February.
As per the agreement, Corporation Bank will be allowed to install
its ATMs at 11 sites in seven proposed stations in the first phase
of the MRTS project.
Corporation Bank also
claims to have computerised 86 per cent of its business and is in
the process of implementing a full-fledged technology development
plan. The bank was also recently conferred with an award for
excellence in banking technology by the Hyderabad-based Institute
for Development and Research in Banking Technology, sponsored by
the Reserve Bank of India.
The bank has set aside a
sum of Rs 125 crore for IT projects during the current year and
proposes to install 250 ATMs. The DMRC-ATM venture is expected to
provide ‘excellent business opportunities’ for the bank,
especially since DMRC proposes
to construct commercial complexes adjacent to the ATM sites, the
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