STRATEGIC PARTNERS
January 1, 2003
MUMBAI, India -- Bank of India (BoI) on Jan. 1 launched a mobile ATM, which will be available for customers in south Mumbai, according to the Financial Times.
BoI plans to roll out another mobile ATM for its customers in the Mumbai suburbs in three months' time, said BoI's general manager D Krishnamurthy. The bank also plans to launch four additional mobile ATMs in cities like Delhi, Bangalore, Hyderabad and Chennai during 2003.
According to the Financial Times, BoI's ATMs are now linked with Indian Banks' Association's Swadhan network. With a link-up of 11 more Swadhan ATMs expected to take place shortly, BoI customers will be able to access a total of 121 ATMs. The bank also plans to enhance its own ATM network by adding about 100 more machines by 2004.
Another Indian bank, United Bank of India, plans to link about 100 of its branches in all major cities by March 31 and 160 branches by June 30.
Nineteen branches and nine ATMs -- 10 branches and four ATMs in Kolkata and nine branches and five ATMs in New Delhi -- have been connected in the first phase of the plan, according to the Financial Times.
However, the bank is in no hurry to install new ATMs. "We have a total of nine ATMs and the number might increase to 50," a bank representative told the Times, adding that ATMs would be installed only in those places where there would be demand for them.
