India's UTI Bank adding off-site ATMs

India's UTI Bank adding off-site ATMs
Tags: Retail / Off-Premises
March 24, 2002

BANGALORE, India -- Private sector UTI Bank is in the midst of a plan to add more off-site ATMs, with a target of 500 ATMs all over India by year's end from 470 today, according to a report in the Times of India.

UTI has the country's second-largest ATM fleet. ICICI Bank has about 600 ATMs.

UTI Bank also is in talks with a co-operative bank in north India for a bilateral agreement for shared ATMs, UTI Bank Chairman and Managing director P J Nayak told the Times.

Nayak said that India will see more shared ATMs in the next few years, since there are many banks which have a huge customer base but do not have the requisite technology and so will need to enter into alliances with banks having established ATM networks.