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Bank of India to double up their number of their ATMs

April 12, 2009

Bank of India" href="/financial/bank-of-india.htm">Bank of India is planning to expand its ATM network in the country. The bank which has around 500 ATMs across India, will double up their number in 2009-10. Executive Director of the bank, M Narendra said that the decision is not based on the recent Reserve Bank of India's directive enabling free use of any ATMs for cash withdrawl from April 1. As per the Reserve Bank's directive, each bank has to pay anywhere from Rs. 12 to Rs. 18 for each transaction conducted by its customer on another bank's ATM. Narendra said, "A move to issue more ATM-debit cards would lessen the pressure on our branches, most of which handle bulk pension accounts. Such customers insist on personalised care at the counters, and this may eat in to the time of other customers".

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