Federal Bank, Kerala based private sector bank, has entered into an agreement with Tata Consultancy Services (TCS) for setting up automated teller machines (ATMs) at Passport Seva Kendras (PSKs). The bank would deploy ATMs at the following PSKs - Ambala, Chandigarh, Gurgaon, Ludhiana, Aluva, Kannur, Kollam, Kottayam, Kozhikode, Payyannur, Thrissur and Vadakara. The bank has also expressed its willingness to provide more value added services and tie-ups with the IT giant, assuring excellence in service.
Federal Bank has already deployed more than 1,200 ATMs across the country. The ATM system runs on advanced ATM switching solution and handles more than three lakh transactions per day.
Federal Bank is the fourth largest bank in India in terms of capital base and can easily boast of a Capital Adequacy Ratio of 17.23%, one of the highest in the industry. This along with the existence in a highly regulated environment has helped the bank to tide over the recession with minimum impact to its financial stability.
