Financial Daily from THE HINDU group of publications
Tuesday, Feb 10, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 10, 2004 |
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Money & Banking
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Public Sector Banks Marketing - Strategy SBI launches floating ATM Our Bureau
BANKING ON WATER: State Bank of India created waves on Monday by introducing a novel channel for banking — a floating ATM in Kerala. The ATM has been installed on a jhankar ferry boat plying between Ernakulam and Vypeen. The jhankar, belonging to the Kerala Shipping and Inland Navigation Corporation, makes 30 trips a day carrying about 5000 people and their vehicles. - K. K. Mustafah
Kochi , Feb. 9 RATHER than expecting the customer to go in search of the automated teller machine (ATM), State Bank of India has in an innovative move introduced the first floating ATM in India, probably in the world, at Kochi today. Inaugurating the ATM on a Jankar boat ferrying passengers and vehicles between Kochi and Vypeen islands, Mr Ashok Kini, Deputy Managing Director (IT) of SBI, said, "The facility of a floating ATM is the latest innovation from the bank to serve its valued customers at all times and at all locations," he added. The Jankar ferry boat is owned by the Kerala Shipping and Inland Navigation Corporation (KSINC) and operates between Ernakulam-Vypeen sector in the State, making 30 trips and carrying approximately 5,000 people a day. Referring to business volumes from the floating ATM facility, Mr Kini said the bank expected a moderate volume of business. The ATM was supplied by NCR Corporation, while connectivity had been established by Reliance Infocomm using CDMA technology, he added. Mr C. Narasimhan, Chief General Manger, said that the SBI group today has the largest ATM network with around 3,000 ATMs spread across the country.
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