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Indian bank finds acceptance of new ATM slow

January 14, 2002

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MUZAFFARPUR, India -- The response of Punjab National Bank (PNB) customers to a new ATM has not been satisfactory in the first four days since its installation at a branch here, according to PNB regional manager Ajay Mishra.

As reported in the Times of India, only 500 people, including many staff members of the bank, of a total of 10,000 customers of five bank branches in the town have so far used the ATM.

An ATM card holder can withdraw cash up to 5,000 rupees a day at the Khabra Road branch.

Mishra, the bank's regional manager, told the Times that the security aspect of the ATM service has been taken into account by bank management. The gate of the center opens only with the help of an ATM card, and only one person can go in at a time. ATM cards and PINs are supplied to customers under sealed cover from the Mumbai office of the bank after receiving an application for the service.

Although the service is free, a fixed deposit of 15,000 rupees is required from every ATM card holder. At least 100 more applications are pending, Mishra told the Times.