Cosmos ATMs go national

With a network of 50 Automated Teller Machines (ATMs), Cosmos Co-operative Bank, the second oldest bank in the country, has announced that it has connected to the National Financial Switch (NFS) interface of IDRBT, Reserve Bank of India (RBI), thus making available to its customers 9,267 ATM's of 33 banks all over India, including those of Cosmos Bank, 21 banks in NFS network, 12 in BANCS network.

Explaining the need for change, M L Abhyankar, chairman of Cosmos Bank, said, "We will soon introduce credit cards and debit cards, e-broking."

We have also applied to the RBI for a full-fledged foreign exchange license." Detailing the roll-out plans of the upcoming services, Shashikant Bugde, bank managing director, said, "We will launch the credit and debit card service before Diwali and tie-up with initial 25 stores in the next three months for offering this facility and then tie-up with a national service provider. In the next two months, we expect to receive the foreign exchange license as well."