The Hindu : Indian Overseas Bank to instal more ATMs

Online edition of India's National Newspaper
Friday, Mar 28, 2003

Business

Business

Indian Overseas Bank to instal more ATMs

By Our Corporate Reporter

CHENNAI MARCH 27. Indian Overseas Bank has plans to double the number of ATMs to 150 shortly. It has installed two more ATMs here taking the total to 77 at present with Chennai accounting for 16 ATMs. According to S. C. Gupta, Chairman and Managing Director of the bank, the ATMs in major metropolitan cities were networked and offering `any branch banking' service. The two ATMs, one each in Mylapore and East Mada Street branches, were inaugurated by Mr. Gupta, today.

The bank provides any branch banking service at 284 branches and seven extension counters in 36 centres and these would be extended to 300 branches shortly.

According to B. Baskaran, Chief Manager, Mylapore Branch, the ATM facility would help bring in more customers to the branch as it was one of the branches offering any branch banking. All the existing savings bank account holders, numbering 30,000 would be offered free ATM cards, he said.

On the technology front, the bank has computerised 95 per cent of its branches. Out of the total of 1,429 branches 1,363 branches have been computerised. The fully computerised branches, numbering 484, offer single window service and remote login facility to its customers.

The banking software used by the bank is fully developed in-house by its ISO 9001 accredited computer policy and planning department.

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