Corporation Bank, Delhi Metro tie up

Mangalore: 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.

According 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 release said.