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& Updates @ ATMINDIA.com |
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Highest ATM in India
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Thegu, near the Nathula Pass in Sikkim, which at
13,200 feet is the highest ATM in India. ATM is
capable of handling rough weather & sub-zero
temparatures.
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Worlds first floating
ATM
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SBI will be launching a floating ATM.The boat fitted
with an ATM will berth near hotels and places of
worship.Floating CDMA technology will keep the ATM
operational.
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Banks join hands to set
up Value-Added Shared ATM Network.
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Five public sector banks Syndicate Bank, Bank of
India, Indian Bank, United Bank of India and Union
Bank of India -have joined hands and set up value
added shared ATM network.
These ATMs would accept Visa and Master Cards also
in time to come (source Free Press Journal).
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Outsourcing ATM services
- a new breed of services.
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A new breed of service providers are now offering
services like identifying the location for the
ATMs, installation, making cash deposits etc.
Bank of India is using this outsourcing model.
Mr.Harish Murthi is one of the service providers
in this field. Cost reduction of around 60% is
claimed by ATM service providers.
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Dena Bank stops Swadhan Network
usage |
| Dena bank customers holding the ATM cards of Swadhan
network will NOT be able to operate these ATMs in
effect from 31st July, 2003. Customers of Dena bank
have the option to apply for Dena Bank's own ATM
/ Debit card through their respective branches.
For more information, please visit
their Website! |
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State Bank of India ordered
1,500 ATMs from NCR Corporation! |
| The
State Bank of India has ordered 1,500 ATMs from
NCR Corporation to be delivered over the next 18
months. This order includes installation and network
management. SBI ATMs also features facilities such
as payment of fees, touch screen ATM locator, multi-lingual
screens. |
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ICICI Bank, has announced
it's first VRS programme! |
ICICI
Bank, has announced it's first VRS programme. This
`Early Retirement Option' would be available to
all employees who have completed 40 years of age
and seven years of service with the bank as on July
31, 2003.
The bank will give as compensation either three
months salary for every year of completed service
or the salary of remaining months of service whichever
is lower. About 2,000 people of the total employee
strength of 11,000 would be eligible for this VRS.
(Source: banknetindia.com) |
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State Bank of India (SBI)
has announced net profit of Rs 3,105 crore! |
State
Bank of India (SBI) has announced net profit of
Rs 3,105 crore (Rs 2431.62 crore), registering a
growth of 27.69 per cent. The operating profit stood
at Rs 7,775.40 crore (Rs 6,044.83 crore), recording
a growth of 28.63 per cent. The capital adequacy
ratio was 13.5 per cent (13.35 per cent), net NPAs
to net advances 4.5 per cent (5.63 per cent) and
gross NPAs 9.34 per cent (11.95 per cent).
The income from treasury operations and the profit
on the sale of Government securities increased to
Rs 1,715 crore (Rs 341 crore). SBI has declared
85 per cent dividend (Rs 8.5 per share) compared
to 60 per cent in 2001-02.
(Source: banknetindia.com)
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According to a study by Crisil,
Indian Banks have unbooked profits of Rs 63,900
crore! |
| According
to a study by Crisil, Indian Banks have unbooked
profits of Rs 63,900 crore, which can absorb an
interest rate shock of up to 241 basis points (bps)
in case the rates move upward. Crisil, however,
does not expect significant movement in rates in
a one-year time frame and thus there are little
chances of erosion in the banks’ investment
portfolio.
According
to Crisil, the estimated weighted average maturity
of all outstanding gilts is 8.05 years and the
weighted average modified duration is 5.14 years.
A modified duration of 5.14 implies that for every
100 bps increase in interest rates, the value
of the portfolio shall decline by 5.14%.
(Source: banknetindia.com)
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idbi bank first in Asia to introduce a revolutionary new Payment Product |
idbi bank, one of the country’s fastest growing banks, has introduced a revolutionary new product called “Card-to-Card Money Transfer”. idbi bank is the first bank in Asia to provide this unique facility to its customers. With this unique product, customers can transfer funds from their bank account to any Visa card anywhere in India. This can be done simply & conveniently through idbi bank’s netbanking, ATM or branches.
For More Details Click here |
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