SBI to expand ATM network

By Our Corporate Reporter

CHENNAI, AUG. 7. State Bank of India is planning to expand its networked ATMs to 395 covering 15 cities by this month end and further to 600 in 42 centres by March next. It is proposed to have 1,000 ATMs including 400 stand alone by March according to Mr. R. C. Sharma, chief general manager, State Bank of India, Chennai circle.

Addressing presspersons here today, after inaugurating the 101th ATM on SBI's ATM network and the 23rd in Chennai at the main branch, Mr. Sharma said networked ATMs comprised branches in the four metros (New Delhi, Mumbai, Kolkata and Chennai) besides Bangalore, Hyderabad, Pune and Tiruvananthapuram. Out of the 23 ATMs installed in Chennai, 13 were networked ATMs, he said.

To make customers familiar in transacting with ATMs the bank is offering facilities such as cash withdrawal, balance enquiry and mini statement of account at the networked ATMs. In future, it is proposed to introduce other utilities such as cash deposits, inter-account funds transfers and several non-cash services such as utility bill payments and reservation of railway tickets. The ultimate plan is to develop ATM network into a vibrant self- service channel.

Nineteen more networked ATMs in Chennai city and one in Vellore are under installation and will be operational next month. Other major centres such as Coimbatore will also be taken up for networking in the next phase.

Other technology initiatives include Internet banking which has been operationalised at 51 branches with effect from July 1. In Chennai, the project has been implemented at three branches. The bank has fully computerised 2,555 branches as on March 31, 2001 this year with 229 in Chennai circle.

On the performance of Chennai circle, Mr. Sharma said despite formation of Kerala Circle by hiving off 228 branches with 31.3 per cent share in deposits in November last year, the Chennai circle achieved a creditable growth rate in deposits at 15.4 per cent for the year ended March 31, 2001.

Mr. K. C. Raut, General Manager (D & PB) said the small industries and business and personal banking segments performed well compared to the previous year. The growth in personal segment deposits was 22.5 per cent for domestic deposits and 19.4 per cent for non-resident customers' deposits, he said.

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