IDBI Bank joins ATM network

quot;The next step is to extend Swadhan to other cities. However, this will require that each participating bank have on-line connectivity and a central database of account holders,quot; Dandekar said, adding that IBA8217;s member banks were of the opinion that the Swadhan initiative, managed by India Switch Company ISC, should be consolidated first in Mumbai and then expanded to other cities.

ISC8217;s vice president Mani Mamallan, however, felt that Swadhan would become a network of 500 ATMs across the countryby the end of 1999.

IDBI Bank managing director Deepak Mukherjee said the bank already has a centralised database and could offer access to ATM cardholders of other participating banks to its 22 ATMs in other cities. quot;However, we are awaiting IBA approval for this,quot; Mukherjee said, adding that IDBI Bank would establish web-enabled ATMs once internet access becomes easy as it would be a cheaper channel to connect ATMs compared to VSAT or leased lines.

quot;IDBI Bank would also be installing a series of off-site ATMs in various parts of the country in the current year,quot; Mukherjee said.