CSB in ATM sharing pact with SBI; service to be available in Sept

New Delhi, July 27 (UNI) The Catholic Syrian Bank (CSB) today said it has tied up with the State Bank of India, to enable its customers to enjoy the widespread ATM network of the country's largest commercial bank.

''Under the agreement, the customers will be able to use the ATMs in both the SBI as well as the CSB banks. This service will be available by September,'' CSB General Manager P C Verghese told reporters here while launching the CSB Global Support Debit Visa Card.

The Global Support Card, enables the holders to transfer funds to any other Visa card holder in India.

This facility is currently provided by only six banks in India, including two foreign banks, and four new generation private sector banks, he said.

The other features of the card include, global acceptability, which means the customers of the bank can draw cash from 24 million merchant locations in more than 160 countries.

''The customers can withdraw money in the currency of the country in which he or she is and the amount will be debited in Indian currency from his account,'' Mr Verghese said.

The bank will also launch its Credit Card service by December this fiscal, for which the SBI will provide necessary card technology.

Headquartered at Thrissur, the bank plans to enhace its presence in north India, and will open 12 new branches by the end of this financial year, of which 8 will be in the Delhi zone. Also, 75 ATMs will be made operational in major cities of northeren India soon.

At present CSB has 320 branches and 25 extension counters.

The bank has also tied up with Birla Sun Life, New India Assurance Company. to offer insiurance products.

CSB's total business till March 31, 2006, was to the tune of Rs 7,000 crore.

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