NEWS & ADVICE : CREDIT CARDS
SBI asked its employee to use the own bank ATM.
By Ankit Sharma
Apr 1, 2014
Print    Email    RSS   

The Data of country’s largest bank State Bank of India stated that a large number of its employee use other bank’s ATM for making transactions. Nearly 280,000 card swipes are made in other bank’s ATM. Every card swiped at other banks’ ATM makes that branch richer by Rs 15. As result of which this is bringing down the profit of the bank by Rs 5 crore per year. Bank has asked the employee to use their own bank’s ATM to carry out the transaction, this will help the bank to have stronger relationship with employees.

Further it has been reported that bank will go slow on hiring of employees as well, because bank has notice an upsurge of 35% in the expenses of the staff within a couple of years. State bank of India is the country’s largest with the largest network spread all across the country.

At present the first five transactions in the non- parent bank are free of cost, and the parent bank has to pay the cost . This would mean that each bank would have to foot the bill for these transactions. It has been reported that ATM interchange fees also increased to Rs 273 crore, a 29 per cent increase, at the end of December last year.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Multi-currency card- A hassle-free...
Some quick facts about CIBIL report
Converting credit card outstanding into a...
Rupeetimes guide to different types of...
Now a test for Financial Skills!!!


+919988217867 Are you looking for a powerful spell?...
iam cheching my mobil nember
How can I clear my CIBIL PROBLEM?
what is my credit card statement

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive