Financial Daily from THE HINDU group of publications
Thursday, Apr 10, 2003
Financial Daily from THE HINDU group of publications Thursday, Apr 10, 2003 |
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Money & Banking
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Public Sector Banks Four PSBs to share ATMs Our Bureau
MUMBAI, April 9 FOUR public sector banks — Bank of India, Indian Bank, Syndicate Bank and United Bank of India — have agreed to share their ATM networks, currently numbering 1,000. "General managers of the various banks met on Wednesday in Mumbai to formally sign the memorandum of understanding," according to a Bank of India press release. The new network, with an integrated backbone network with settlement to be managed by Bank of India, is seen to be pre-emptive of the discontinuation of the `Swadhan' network amongst nationalised banks established by the Indian Banks' Association.
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