The Bank of Rajasthan joins Cash Tree ATM network

Tuesday 1 February 2005 11:34 CET | News

The Bank of Rajasthan has joined the Cash Tree Automatic Teller Machine (ATM) network set up by six public sector banks, consisting of more than 1000 ATM outlets.

The PSU banks that set up the network in 2003 are Bank of India, Dena Bank, Indian Bank, Syndicate Bank, United Bank of India and Union Bank of India. Speaking to newspersons here today, Bank of Rajasthan (BoR) Chairman Pravin Kumar Tayal said, Joining the Cash Tree is a step further in the direction of bringing convenience banking to the doorstep of our customers as well as the customers of member banks. Customers do not have to pay anything as transaction fee, he added. Under this arrangement, BoR customers will be able to access a network of over 3300 ATMs. Cash Tree has a network of 1006 ATMs across the country, said M V Babu, DGM, Bank of India, and nodal officer for Cash Tree. Apart from Cash Tree, BoR has an ATM-sharing arrangement with Corporation Bank and UTI Bank for over 2270 ATMs, said B M Sharma, BoRs Managing Director. Replying to a question, Tayal said the Bank was waiting for RBI guidelines to enhance the promoters stake from the existing 46 percent to 49 percent.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce