IDBI Bank plans kiosks for non-cash services

IDBI Bank has drawn up plans to set up round-the-clock transaction kiosks for non-cash banking services. Trial runs are on at the Mumbai main branch at the IDBI headquarters in south Mumbai.

IDBI Bank will inaugurate the first 24X7 kiosk early next month and then extend the concept to 99 more locations.

"Our customers would be able to do transactions like paying utility bills and view the financial transactions but can't withdraw or deposit money. Customers will also be able to make inter-account transactions. They will get prompt service," the bank's corporate head (technology), Sanjay Sharma, said.

The location of the kiosks will be decided on the basis of customer traffic. The bank could decide on locations such as premises of corporate clients or in the bank's own branches.

These kiosks would work on round the clock basis and may not require Reserve Bank of India's permission. The investment outlay for putting up 100 Kiosks is Rs 5 crore, Sharma said.

Under RBI's revised guidelines for branch approvals, banks are required to present annual business plans for network expansion, including branches and ATMs.

The bank is also planning to add 150 more ATMs to its existing network of 350 over the next six to twelve months. The average cost of one setting up an ATM centre including connectivity is Rs 12 lakh.