Corp bank first public sector to launch NEFT through ATMs

Wednesday, April 16, 2008, 15:04 [IST]

Kolkata, Apr 16 (UNI) Corporation Bank has become the first Public Sector Bank to launch National Electronic Funds Transfer(NEFT)through ATMs.

A release here today stated that the facility will cater to the to the personal needs of individual debit cardholders, especially Savings Bank customers and enable them to remit the required amounts within two hours.

It would also help in interoperability between banks as the funds could be transferred to the beneficiaries' accounts of any bank.

Presently, 43,000 branches of scheduled commercial banks in India have this facility.

UNI PP LL/src1434

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