Atm Network New Battlezone For Banks

BoI, PNB and Euronet-led groups woo banks with larger networks

The race for setting up shared ATM networks in the country is hotting up with the Reserve Bank of India now allowing the first independent private sector initiative led by Euronet with IDBI Bank as the settlement bank.

Two other consortiums led by Bank of India (BoI) and Punjab National Bank (PNB) are already wooing banks with large ATM chains to join their ranks.

The fever among banks to share ATMs comes against the backdrop of the dismantling of the Swadhan network, promoted by the Indian Banks