Corporation Bank to let other banks share its ATM facilities
By Our Banking Bureau | 07 Jan 2003
Hyderabad: Corporation Bank plans to cash in on its investments on ATMs by letting other banks share the facilities.
The bank, which has entered into agreements with Oriental Bank of Commerce, Karnataka Bank and Bank of Rajasthan for sharing its ATM network, is negotiating with a couple of other banks for similar arrangements.
Disclosing this at a news conference on the eve of opening 12 high-tech banking units in the twin cities of Hyderabad and Secunderabad, Corporation Bank chairman and managing director K Cherian Varghese said the bank will finalise arrangements with Dena Bank and Allahabad Bank shortly for sharing its ATM network. Plans are afoot to share our vast ATM network with more banks.
Aimed at further strengthening its distribution network, the bank proposed to go aggressive in expanding its ATM network across the country.
The bank, which currently has a network of 300 ATMs, has initiated measures to set up another 200 by the end of the current fiscal year, taking the total network to 500 ATMs by 31 March 2003. The sites have been identified and the orders for the ATMs have been placed, Varghese said.
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation