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| The initiative is part of the bank's cluster-based implementation of core banking solution.
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| The facility will be initially available to the savings bank and current account holders, and will be extended to others after a while.
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| Launching the service here, the bank's chairman and managing director B Vasanthan said that the facility would be extended to the Bangalore zone, which covers branches in Karnataka and Kerala, on October 6, and later to other metro zones of Mumbai, Delhi, Kolkata and Chennai by October-end.
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| The bank also launched today instant fund transfer facility under which customers of 250 branches can transfer funds from one account of the bank to another account instantaneously and cost effectively.
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| The instant funds transfer is priced moderately at Rs 50 upto Rs 10,000 and a maximum of Rs 1,000 for funds upto Rs 50 lakh.
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| Andhra Bank has so far installed 242 networked ATMs across the country to provide any time banking facility, of which 45 ATMs are in rural and semi-urban areas.
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| All its 1,116 branches are computerized, while 323 branches are interconnected through wide area network.
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| The bank is planning to install 83 ATMs in the current financial year, taking the total number of ATMs to 325.
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| It also plans to increase its ATM and debit card base to above one million mark from the existing 4.8 lakh by March 2004.
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| The bank is now planning to introduce centralised clearing activity shortly so that all its inter branch cheques will be cleared instantly.
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| To handle the customers' requirements of checking balances etc, the bank is also planning to set up a call center by March 2004.
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| Plans are also on the anvil to launch Internet banking soon. The bank has recently tied up with IDBI Bank so that customers of the two banks can share the ATMs of the two banks. |
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