The Hindu : Tamil Nadu News : ATM inaugurated

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Tuesday, Nov 24, 2009
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Tamil Nadu

Tamil Nadu

ATM inaugurated

Staff Reporter

ODDANCHATRAM (DINDIGUL): The Indian Bank will install automated cash dispensers that would collect cash from customers directly soon.

This machine will count different denominations fed into it and also detect bogus currency notes, said M.S. Sundararajan, Chairman and Managing Director, Indian Bank.

Talking to mediapersons after inaugurating an off site ATM here on Monday, he said such a measure would reduce crowd at cash counters and save considerable time.

Similarly, the bank had introduced a mobile phone service in Chennai as a pilot project that would help customers get prior appointment with bank officials for various services, including withdrawal of money by sending an SMS to a mobile phone number with the bank branch.

A particular time would be allotted to each customer.

The customer need not wait in the queue. He could visit at a prescribed time and complete the transaction within minutes.

This service would be extended to other branches in the State immediately, he added.To a question on education loans, the chairman said the bank has provided a facility on its web site to enable students to apply for the loan through online. A number would be given and agreed to grant loan in principle.

Applicants could go to the respective branch with this number for further processing. The bank had offered Rs.470 crore as education loan in the past six months this year.

Elaborating future plans, he said that the bank had applied for licence to open 170 branches. These branches would be opened by next financial year end. It had already opened 100 branches this year and had licence to open 34 branches.

About 107 branches were opened last year, Mr. Sundararajan said.

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