ATMS FIND NEW FOOTING IN CORPORATE PREMISES
Article Abstract:
Majority of private sector banks have started shifting their branch based onsite Automated Teller Machines (ATM) to offsite locations like corporate offices. Around 115 ATMs have been installed at corporate doorsteps across the country. Another 55 more offsite ATMs will be installed across the metros. Ramco Systems, Brakes India, Madras Refineries, FCI, Wipro, Satyam Computers and Infosys are some corporates in Chennai, Tamil Nadu, which have hosted ATMs at their sites. The banks also offer value added services along with ATM centres. Such ATMs are proving beneficial to companies since company can credit salaries to savings bank (SB) account of employees, who are working in shifts. These employees have access to 24-hour banking facilities. Offsite ATMs in corporate locations are offering service to 1,500 accounts, amounting to Rs75 lakh to Rs 1 crore of SB deposits. This takes care of servicing cost of ATMs. (um)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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SBI EXTENDS INTEREST INCENTIVES ON TERM DEPOSITS
Article Abstract:
State Bank of India (SBI) has decided to extend interest incentives on bulk domestic rupee term deposits. This follows the Reserve Bank of India's decision to give powers to individual banks to offer differential rates on domestic term deposits. SBI offers an additional interest rate of 0.50 percent per annum for deposits in the range between Rs15 lakh and less than Rs1 crore over any smaller deposit of the same maturity. Deposits between Rs1 crore and less than Rs10 crore will attract an additional 0.75 percent interest per annum. Deposits of Rs10 crore and above will attract an additional interest of 1 percent per annum. These rates are payable in addition to the rates applicable for amounts less than Rs15 lakh. (gs)
Comment:
Adds interest rate of 0.50%/ yr for deposits ranging between Rs15 lakh & less than Rs1 crore on smaller deposit of same maturity
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ANZ GRINDLAYS ASKS CLERICAL STAFF TO TAKE DIRECT MARKETING
Article Abstract:
ANZ Grindlays Bank which has about 1,600 bank assistants has chalked out an aggressive marketing strategy to promote its business. The bank has directed its clerical staff, cashiers and typists to get into direct marketing activities. Under the new marketing strategy, the employees of the bank will have a common designation that will allow them to have greater flexibility and more opportunities for building up career. The bank is aiming to reduce its staff strength. It plans to foray into a satellite banking system. (gs)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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