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State Bank of India in midst of ATM upgrade; to add debit function to cards

October 20, 2002

CHENNAI, India -- State Bank of India will upgrade all of its ATM cards to include a debit function by the middle of December, according to a report in the Times of India.

P N Venketachalam, State Bank's managing director and group executive, told reporters that the new cards were part of a major retail initiative to enhance customer convenience, and would be issued to all customers free of charge.