Arundhati Bhattacharya Chairman of State Bank of India (SBI) along with the top management of SBI at the launch of Green Pin in Mumbai.Green PIN is an easy and convenient way to generate Debit card PIN through various channels like ATM, Internet Banking, IVR and SMS. It will benefit the customers with more convenience by avoiding delay and visits to branch for submitting regeneration ATM PIN requests.This initiative will save substantial cost on stationary and courier.
Showing posts with label atm. Show all posts
Showing posts with label atm. Show all posts
Monday, February 29, 2016
Saturday, September 22, 2012
SBI tops ATM expansion in non-metros: Assocham
Mumbai, September 19: Country's largest lender State Bank of India (SBI) is more aggressive in expanding its ATM (automated teller machine) network in the non-metro and semi-urban centres as compared to its peers, according to a study by Assocham. "Unlike other banks, the State Bank of India (SBI) is expanding its ATM network in non-metro and semi-urban centres, faster than expansion in the metros," the study based on the recent Reserve Bank data said. As compared to the 5,783 ATMs in metro cities, SBI has 7,511 and 6,419 ATMs in non-metro urban areas and semi-urban areas, respectively, the Assocham statement said.
SBI's peer in the state-run banks space, Punjab National Bank is the only other bank which has more ATMs in non-metro cities than the metros, it said. The objective of financial inclusion can be better achieved by the usage of technological interventions, including ATMs, and public sector banks have an important role to play in the objective, Assocham Secretary General D S Rawat was quoted as saying.
Overall, the private sector banks, led by Axis Bank have gone about expanding their network through ATMs in a much more aggressive way than their public sector peers. Be it, ICICI Bank, Axis Bank or HDFC their bias and preference for ATMs is for the metro cities, followed by tier two cities.Among the private sector banks, Axis Bank has the largest (10337) ATM network, followed by HDFC Bank with 9709 such machines and ICICI Bank - 9366 ATMs.
Excepting the SBI, the other banks have to go a long way before achieving the financial inclusion in the semi-urban and rural areas.
“The Finance Ministry is rightly very keen of achieving the financial inclusion of a large number of people in rural areas. This can best be achieved by leveraging of technology and use mobile telephony and ATMs. Somehow, the public sector banks will have to take a lead in these areas. Even their brick and mortar branch network is wider in the rural and semi-urban areas than the private sector banks,” ASSOCHAM Secretary General D S Rawat said.
He said while a good beginning has been made, pooling of technology resources like the ATMs should be encouraged so that optimum use can be made to the advantage of the people. The ASSOCHAM quoted honourable Finance Minister Mr P Chidamabaram who recently noted how even the trade has not been fully brought into the banking network.
“As was pointed out by the Finance Minister, today traders are not able to deposit their cash of sales proceeds at night in any bank. In the process, they have to keep it either in the shop premises or at home taking the risks of theft and other insecurity issues. We must have technology-driven day and night banking so that a wider section of the informal economy is brought into the banking network,” Mr Rawat said. While the RBI has been expressing concerns over regulatory issues over the mobile banking, sooner or later different technology platforms have to converge and the regulators need to equip themselves to deal with new challenges and opportunities.
The ASSOCHAM said a large number of Indians still remain outside the banking network. It is because of lack of the organized banking that the gullible people in semi urban and rural areas fall prey to unscrupulous money-lenders. “The institutions of micro-finance did make a good beginning. However, because of certain corporate governance issues, the entire experiment has become rather overshadowed by controversies. The use of technology to reach out to the bottom of the pyramid promises a lot of scope,” the ASSOCHAM Secretary General said.
SBI's peer in the state-run banks space, Punjab National Bank is the only other bank which has more ATMs in non-metro cities than the metros, it said. The objective of financial inclusion can be better achieved by the usage of technological interventions, including ATMs, and public sector banks have an important role to play in the objective, Assocham Secretary General D S Rawat was quoted as saying.
Overall, the private sector banks, led by Axis Bank have gone about expanding their network through ATMs in a much more aggressive way than their public sector peers. Be it, ICICI Bank, Axis Bank or HDFC their bias and preference for ATMs is for the metro cities, followed by tier two cities.Among the private sector banks, Axis Bank has the largest (10337) ATM network, followed by HDFC Bank with 9709 such machines and ICICI Bank - 9366 ATMs.
Excepting the SBI, the other banks have to go a long way before achieving the financial inclusion in the semi-urban and rural areas.
“The Finance Ministry is rightly very keen of achieving the financial inclusion of a large number of people in rural areas. This can best be achieved by leveraging of technology and use mobile telephony and ATMs. Somehow, the public sector banks will have to take a lead in these areas. Even their brick and mortar branch network is wider in the rural and semi-urban areas than the private sector banks,” ASSOCHAM Secretary General D S Rawat said.
He said while a good beginning has been made, pooling of technology resources like the ATMs should be encouraged so that optimum use can be made to the advantage of the people. The ASSOCHAM quoted honourable Finance Minister Mr P Chidamabaram who recently noted how even the trade has not been fully brought into the banking network.
“As was pointed out by the Finance Minister, today traders are not able to deposit their cash of sales proceeds at night in any bank. In the process, they have to keep it either in the shop premises or at home taking the risks of theft and other insecurity issues. We must have technology-driven day and night banking so that a wider section of the informal economy is brought into the banking network,” Mr Rawat said. While the RBI has been expressing concerns over regulatory issues over the mobile banking, sooner or later different technology platforms have to converge and the regulators need to equip themselves to deal with new challenges and opportunities.
The ASSOCHAM said a large number of Indians still remain outside the banking network. It is because of lack of the organized banking that the gullible people in semi urban and rural areas fall prey to unscrupulous money-lenders. “The institutions of micro-finance did make a good beginning. However, because of certain corporate governance issues, the entire experiment has become rather overshadowed by controversies. The use of technology to reach out to the bottom of the pyramid promises a lot of scope,” the ASSOCHAM Secretary General said.
Saturday, September 8, 2012
One-third of new ATMs should be visually-challenged friendly
Chandigarh, September 7: The Reserve Bank of India has asked all banks to make efforts to provide banking services available to all. In a circular issued to all state-run commercial banks, the central bank has advised them to ensure all banking facilities such as chequebooks, ATMs, internet banking, lockers, retail loans, credit cards, etc, are invariably offered to visually challenged persons, without any discrimination as they are legally competent to contract.
The RBI has also directed the banks to take necessary steps to provide all existing or proposed ATMs with ramps and to provide at least a third of new ones installed, with as talking features and Braille keypads.
The move follows a complaint filed by the office of the chief commissioner for persons with disabilities, alleging visually challenged persons face problems in using banking facilities. "Banks are therefore advised to strictly extend all banking facilities to persons with visual impairment and other disabilities, reads the circular.
Most banks allow the visually impaired to open joint bank accounts only. Since ATMs are not voice enabled they cannot be accessed.
The RBI has also directed the banks to take necessary steps to provide all existing or proposed ATMs with ramps and to provide at least a third of new ones installed, with as talking features and Braille keypads.
The move follows a complaint filed by the office of the chief commissioner for persons with disabilities, alleging visually challenged persons face problems in using banking facilities. "Banks are therefore advised to strictly extend all banking facilities to persons with visual impairment and other disabilities, reads the circular.
Most banks allow the visually impaired to open joint bank accounts only. Since ATMs are not voice enabled they cannot be accessed.
Wednesday, August 29, 2012
SBI officers protest against 7-day schedule
Lucknow, August 28: Officers of the State Bank of India held a demonstration in front of the bank's local head office on Tuesday to oppose the reported move of the bank's management for introducing seven-day banking in SBI.
Addressing the meeting, BK Awasthi, general secretary of State Bank of India Officers' Association said that in the present times when services of alternate channels like ATM, internet banking and mobile banking etc are available to customers, introduction of seven-day banking is not feasible. The move will not only adversely affect the staff of the bank but also drain out the valuable energy resource of the country.
He said that central government offices, secretariat and apex banks like RBI, Nabard etc are having 5-day week, where no difficulty is being experienced at their end. Besides employees' organisations in the banking industry are pleading for a 5-day week in the banking industry and the proposal is pending with the Indian Banks' Association, he added.
Addressing the meeting, BK Awasthi, general secretary of State Bank of India Officers' Association said that in the present times when services of alternate channels like ATM, internet banking and mobile banking etc are available to customers, introduction of seven-day banking is not feasible. The move will not only adversely affect the staff of the bank but also drain out the valuable energy resource of the country.
He said that central government offices, secretariat and apex banks like RBI, Nabard etc are having 5-day week, where no difficulty is being experienced at their end. Besides employees' organisations in the banking industry are pleading for a 5-day week in the banking industry and the proposal is pending with the Indian Banks' Association, he added.
Monday, August 27, 2012
Self-service banking gaining currency
Mumbai, August 26: Banks are increasingly launching self-service banking in the front lobby of their branches to increase customer convenience and reduce transaction time and costs.
Self-service banking in the front lobby of branches enables customers to use alternative banking channels — ATMs, phone banking, cheque deposit machine, and pass-book printer — without entering the branch, any time of the day, irrespective of whether the branch is open or closed.
The per transaction cost incurred on one customer in the physical branch is Rs 50 on an average, while e-banking costs about Rs 10 for a similar transaction.
Recently, ICICI Bank launched 25 electronic branches across 18 cities. The electronic branch, located within the brick and mortar branch, is a one-stop shop for all banking transactions. Among others, it has an interactive kiosk through which services can be accessed by swiping a debit card and provides video-conferencing with the bank’s customer care personnel.
One of the first banks to start the e-lobby facility is Mumbai-based Greater Bombay Cooperative Bank. It is offering all banking transactions to its customers through fully automated lobby banking.
Greater Bank has deployed a single machine called ‘MegaBanker’ in its lobby for 24x7 banking. Customers can use this machine, among others, to deposit cheque/cash (with real time credit to the account), withdraw cash, printing of savings and current account statements, and fake note detection. Currently, Greater Bank has lobby banking in 17 of its existing 21 branches.
Public sector lender Union Bank of India has launched ‘UnionXperience’ branches, where customers can use alternative banking channels any time of the day, irrespective of whether the branch is open or closed. It has implemented these services in 160 branches across 10 cities, with automation through self-service machines. “Today, more than 50 per cent of our transactions get done via e-banking. This saves time and costs for the bank,” said Lalit Sinha, General Manager, Alternate Delivery Channel, Union Bank of India.
A senior ICICI Bank official said the bank wants to expand its technology platform beyond ATMs and desktop devices to mobile and tablet devices.
Challenges
Replenishment of cash in the ATM machines and infrastructure are major problems, Sinha said. “Indians are more comfortable with human interface and hence the customer adaptation to alternate channels is slow,” said Narendra Behere, CEO, Greater Bank.
Self-service banking in the front lobby of branches enables customers to use alternative banking channels — ATMs, phone banking, cheque deposit machine, and pass-book printer — without entering the branch, any time of the day, irrespective of whether the branch is open or closed.
The per transaction cost incurred on one customer in the physical branch is Rs 50 on an average, while e-banking costs about Rs 10 for a similar transaction.
Recently, ICICI Bank launched 25 electronic branches across 18 cities. The electronic branch, located within the brick and mortar branch, is a one-stop shop for all banking transactions. Among others, it has an interactive kiosk through which services can be accessed by swiping a debit card and provides video-conferencing with the bank’s customer care personnel.
One of the first banks to start the e-lobby facility is Mumbai-based Greater Bombay Cooperative Bank. It is offering all banking transactions to its customers through fully automated lobby banking.
Greater Bank has deployed a single machine called ‘MegaBanker’ in its lobby for 24x7 banking. Customers can use this machine, among others, to deposit cheque/cash (with real time credit to the account), withdraw cash, printing of savings and current account statements, and fake note detection. Currently, Greater Bank has lobby banking in 17 of its existing 21 branches.
Public sector lender Union Bank of India has launched ‘UnionXperience’ branches, where customers can use alternative banking channels any time of the day, irrespective of whether the branch is open or closed. It has implemented these services in 160 branches across 10 cities, with automation through self-service machines. “Today, more than 50 per cent of our transactions get done via e-banking. This saves time and costs for the bank,” said Lalit Sinha, General Manager, Alternate Delivery Channel, Union Bank of India.
A senior ICICI Bank official said the bank wants to expand its technology platform beyond ATMs and desktop devices to mobile and tablet devices.
Challenges
Replenishment of cash in the ATM machines and infrastructure are major problems, Sinha said. “Indians are more comfortable with human interface and hence the customer adaptation to alternate channels is slow,” said Narendra Behere, CEO, Greater Bank.
Monday, August 20, 2012
Number of ATMs to double; will also accept deposits
NEW DELHI: The government today said banks have been asked to upgrade their ATMs to double-up as cash collecting machines as well to mobilise Rs 11 lakh crore lying as cash with people.
Also, the public sector banks have been asked to double the number of ATMs from about 63,000 in the next two years, Finance Minister P Chidambaram told reporters after reviewing working of state-owned banks and financial institutions.
"People must take to banking ... Something like Rs 11 lakh crore lies as cash in hands of people. That Rs 11 lakh crore money should not lie in hands of people, it should lie in banks," he said.
He said more people will take to banking if there are more branches and facility to draw money whenever needed and put it back into banks when they do not require it.
"Now banks have been advised to quickly upgrade their ATMs to not only cash disbursing machines, but also cash accepting machines.
"Banks should also intensify door-step banking, in bazaars, markets to collect the daily collection of shops in order to mobilise the savings of the people," the minister added.
He further said that public sector banks have about 63,000 ATMs in different parts of the country.
"The goal is to double it in two years. I am confident they will achieve it," he added.
He said upgrading ATMs to cash collecting machines will help in channelising a large part of cash lying with public in the banking system.
"Ideal banking is that money should remain in bank and I can withdraw it when I want....So the ideal is (that) all money should be in the bank," he said when asked what part of Rs 11 lakh crore should be in banks and with public.
Also, the public sector banks have been asked to double the number of ATMs from about 63,000 in the next two years, Finance Minister P Chidambaram told reporters after reviewing working of state-owned banks and financial institutions.
"People must take to banking ... Something like Rs 11 lakh crore lies as cash in hands of people. That Rs 11 lakh crore money should not lie in hands of people, it should lie in banks," he said.
He said more people will take to banking if there are more branches and facility to draw money whenever needed and put it back into banks when they do not require it.
"Now banks have been advised to quickly upgrade their ATMs to not only cash disbursing machines, but also cash accepting machines.
"Banks should also intensify door-step banking, in bazaars, markets to collect the daily collection of shops in order to mobilise the savings of the people," the minister added.
He further said that public sector banks have about 63,000 ATMs in different parts of the country.
"The goal is to double it in two years. I am confident they will achieve it," he added.
He said upgrading ATMs to cash collecting machines will help in channelising a large part of cash lying with public in the banking system.
"Ideal banking is that money should remain in bank and I can withdraw it when I want....So the ideal is (that) all money should be in the bank," he said when asked what part of Rs 11 lakh crore should be in banks and with public.
Friday, August 10, 2012
More SBI branches in Hyderabad
State Bank of India has launched two new branches in the city. The Chief General Manager of the Hyderabad Circe Rakesh Sharma inaugurated the branches. The branches are located at Liberty centre in Himayathnagar and D.D. Colony at Amberpet. Â Speaking at the launch events, Rakesh Sharma said the two branches were equipped to cater to the personal banking and needs of NRI customers. They will have ATM, Internet and mobile banking services to suit individual customers. The branches will provide full-fledged services, including locker facility.
Monday, August 6, 2012
Bizarre banking system leaves customers stumped
Patna, August 5: Bank allots customer’s locker to another person without notice. Bizarre banking system has come to the fore in two diametrically opposite cases in Bihar. In the first instance, a woman customer was left high and dry when her valuables went kaput after the locker she was operating in Allahabad Bank was allotted to someone else without intimating her. While in another case, three customers on a single day received more than the amount they had asked for, during withdrawal from the ATM of State Bank of India.
The first incident took place in the state capital when Rani Meena Kumari of Shastri Nagar went to operate her locker in Allahabad Bank which she had opened it in 2008. Much to her dismay, Meena found that not only her locker was allotted to a different customer, but her valuables worth Rs 4 lakh were also missing. On query, she was told that since the locker was not operated for the last two years, it was allotted to some one else. A furious Meena lodged an FIR against the bank officials at Shastri Nagar police station and wondered how this kind of faux pas could happen in a government-controlled bank. “We have received a written complaint from Meena Kumari. The regional office of the bank is looking into the case. If required, we too will begin investigation in right earnest,” said SHO of the police station, IC Vidyasagar.
In another instance, a customer of SBI went to an ATM at Pali market in Darbhanga and opted to withdraw Rs 3,000. But lo and behold, the machine handed him Rs 7,000, although the statement slip showed withdrawal of Rs 3,000 only. With Rs 4,000 more in his kitty, the customer laughed all his way to home. The other customer, who followed him in the queue, met a similar fate when he received Rs 5,000 from the ATM although he had asked for Rs 4,200.
The guard, who operated generator there, smelt a rat when he found the customer smiling sheepishly. On query, he was told about the ATM machine doling out excess amount, even though the statement mentioned only the withdrawal of money which was originally asked for. The guard then asked the customer to return the excess amount, and eventually informed the bank’s branch manager. When the officials reached the venue, they found the ATM working in a weird manner. The ATM was sealed and headquarters office informed about the snag. “Three instances of excess withdrawal have been detected. Out of which one customer has refunded the excess amount. The exact detail of net loss is being ascertained,” said a senior SBI official on the condition of anonymity.
Saturday, August 4, 2012
Now buy online rail tickets without cards or net banking
Mumbai, August 3: State Bank of India customers will be able to pay for online train bookings through mobile banking using the Interbank Mobile Payment System that is available to all depositors. After selecting their tickets on the IRCTC website, customers will be given an option to pay through mobile banking in addition to internet banking and through card. SBI customers can then enter their mobile number, the mobile money ID and one time password which can be generated through their mobile phone.
Until now customers could pay for online booking only if they had internet banking or if they possessed a payment card. An SBI official said that the bank expects the Interbank Mobile Payment System gain in popularity as a payment mechanism and expects the volume of transactions to growth because of the convenience and security it offers.
IMPS is a remittance facility that was launched by National Payments Corporation of India in 2010. This service offers round-the-clock interbank electronic fund transfer through mobile, internet or ATM. The facility is provided by NPCI through its existing switch which is currently handling more than 7 - 8 million ATM transactions on a daily basis.
Today, there are 50 banks integrated to this service and with RBI permitting Co-operatives and RRB's to join this platform, many more are expected to join in coming months. Although banks have been registering a large number of their customers for mobile banking awareness of this facility is still low and transactions are yet to pick up. According to data released by NPCI the month of June saw 34.37 lakh mobile banking transactions involving a value of Rs 306 crore.
Friday, August 3, 2012
ATMs may come loaded with more features
Third party service providers, which have won contracts to set up 62,000 ATMs on behalf of PSBs, are looking to incorporate special features such as multiple currency transactions.
Mumbai, August 2: Third party service providers are now seeking to incorporate special features in ATMs to meet the transaction needs of specific regions. This comes in the wake of nine service providers winning auction bids to set up a pan-India network of about 62,000 Automated Teller Machines (ATMs) on behalf of public sector banks.
Tata Communications Banking InfraSolutions (TCBIL), US-based NCR Corporation and Mphasis are some of the service providers which have won contracts to set up ATMs across States and Union Territories.
TCBIL on Wednesday announced the signing of a contract to deploy and manage nearly 14,000 ATMs across Tamil Nadu and Puducherry, West Bengal, Andaman and Nicobar, and Andhra Pradesh. These ATMs will be deployed over the next two years on behalf of 21 PSBs.
Currency converters
“We are evaluating the possibility of incorporating special features over and above the regular features in ATMs installed in tourist destinations. This, of course, will happen only after consultation with the banks,” said Sudip Kumar, President, TCBIL.
TCBIL is looking at introducing dynamic currency converters in these areas. This facility will allow customers to transact in multiple currencies. “Value-added features like airline ticketing, mobile top-ups and talking ATMs can also be installed in the ATMs if banks permit,” said Kumar. Starting October, TBCIL will roll-out ATMs according to their quarter-wise plan.
NCR has won auctions in popular tourist destinations such as Kerala and Lakshadweep, among other places. It will be deploying 7,400 ATMs (including in Bihar and Jharkhand) for 26 public sector banks in a span of two years.
Solar power
“In power-deficit rural geographies, we will install solar-powered ATMs. Nearly 15-20 per cent of the total deployment will be in this category,” said Navroze Dastur, Senior General Manager, South Asia Channel Partners and Strategic Alliance, NCR Corporation. NCR also plans to provide additional services such as utility bill and income-tax payments in multiple regional languages.
The banking space has seen considerable growth in ATMs in the last few years. Banks collectively have a network of about 90,000 ATMs at present.
Mumbai, August 2: Third party service providers are now seeking to incorporate special features in ATMs to meet the transaction needs of specific regions. This comes in the wake of nine service providers winning auction bids to set up a pan-India network of about 62,000 Automated Teller Machines (ATMs) on behalf of public sector banks.
Tata Communications Banking InfraSolutions (TCBIL), US-based NCR Corporation and Mphasis are some of the service providers which have won contracts to set up ATMs across States and Union Territories.
TCBIL on Wednesday announced the signing of a contract to deploy and manage nearly 14,000 ATMs across Tamil Nadu and Puducherry, West Bengal, Andaman and Nicobar, and Andhra Pradesh. These ATMs will be deployed over the next two years on behalf of 21 PSBs.
Currency converters
“We are evaluating the possibility of incorporating special features over and above the regular features in ATMs installed in tourist destinations. This, of course, will happen only after consultation with the banks,” said Sudip Kumar, President, TCBIL.
TCBIL is looking at introducing dynamic currency converters in these areas. This facility will allow customers to transact in multiple currencies. “Value-added features like airline ticketing, mobile top-ups and talking ATMs can also be installed in the ATMs if banks permit,” said Kumar. Starting October, TBCIL will roll-out ATMs according to their quarter-wise plan.
NCR has won auctions in popular tourist destinations such as Kerala and Lakshadweep, among other places. It will be deploying 7,400 ATMs (including in Bihar and Jharkhand) for 26 public sector banks in a span of two years.
Solar power
“In power-deficit rural geographies, we will install solar-powered ATMs. Nearly 15-20 per cent of the total deployment will be in this category,” said Navroze Dastur, Senior General Manager, South Asia Channel Partners and Strategic Alliance, NCR Corporation. NCR also plans to provide additional services such as utility bill and income-tax payments in multiple regional languages.
The banking space has seen considerable growth in ATMs in the last few years. Banks collectively have a network of about 90,000 ATMs at present.
Wednesday, August 1, 2012
DAILY DRILL-1
1. FIRST ATM WAS
INSTALLED IN LONDON
2. IN INDIA
3. SBI INSTALLED FIRST
ATM AT JAMSHEDPUR
4. INDIAN BANK IS THE
FIRST PSB TO INSTALL ATM.
SBI opens ATM at Drass
State Bank of India has become the first bank to install an ATM at Drass in Jammu & Kashmirs Kargil region, to serve locals as well as soldiers guarding the frontiers in the countrys coldest inhabited place. This is the banks 27,032nd ATM and is located adjacent to the Kargil Vijay Dwar, amemorial to the soldiers who made the ultimate sacrifice in ensuring our armed forces re-occupied Tiger Hill (Pt 5353) in the 1998 war with Pakistan. BSREPORTER
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