Question : AUTOMATIC TELLER MACHINES



(a) whether there has been any agreement between the Corporation Bank and oriental Bank of Commerce for mutual sharing of their Automatic Teller Machines;

(b) if so, the details thereof; and

(c) the benefits accrued to these banks from such arrangements?

Answer given by the minister


THE MINISTER OF STATE IN THE MINISTRY OF FINANCE AND COMPANY AFFAIRS (SHRI ANANDRAO VITHOBA ADSUL):

(a) Yes, Sir.

(b) Oriental Bank of Commerce and Corporation Bank have signed an Agreement on 12.11.2002 for sharing of ATMs. As per the agreement, ATM networks of both the banks will be connected through respective switches. This will expand ATM network of both banks for their customers.

(c) The Oriental Bank of Commerce and Corporation Bank have strong presence in North and South respectively and it will help in reducing the capital expenditure of both banks through sharing of ATMs and shall result in improved customer service.