SBI, BoR to share ATM network

New Delhi, Aug 31 (UNI) State Bank of India (SBI) today entered into an agreement for bilateral sharing of ATMs with Bank of Rajasthan (BoR) from today.

SBI already has similar bilateral agreements with other banks including HDFC, UTI, Punjab National Bank, Corporation Bank, Indian Bank and Andhra Bank.

In a bid to expand their ATM network, several banks are tying up with other banks for sharing ATMs. For banks that have limited number of branches this is an easier and cheaper way to expand their reach.

Customers on the other hand, get access to more number of ATMs. ATM sharing agreements also make it possible for smaller banks to offer their customers greater reach and convenience, even as bigger banks develop their own networks.

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