STRATEGIC PARTNERS
November 19, 2002
MUMBAI, India -- UTI Bank and Karur Vysya Bank have signed a memorandum of understanding for sharing ATMs in India, the third such arrangement by the former, according to a report in India Times.
"We feel that shared networks will be the future of the ATM network as this will minimize geographical overlap of ATMs and provide better coverage to customers. At the same time, the sharing helps the banks to develop economies of scale and minimize the cost of servicing customers," UTI Bank Chairman and Managing Director P J Nayak said.
