IOB may raise ATM limit

[sajiv]

TIRUCHI: The regional office of the Indian Overseas Bank will explore the possibility of increasing the daily ceiling in the withdrawal through its automated teller machine (ATM) services, Chief Regional Manager Renuka Mohan Rao said.

Addressing a customers' meet of the bank held here on Thursday, she said many customers were demanding the rise in the ceiling for withdrawal from the present Rs.15,000 through ATM. She assured them the regional office would initiate action to consider their demand.

Mrs. Rao said the IOB was not affected by any crisis due to the strict adherence to the guidelines and regulatory compliance issued by the Reserve Bank of India.

"Our regulatory compliance track-record is diligent and exemplary, our assets quality good," she said. Last year the bank had, through sustained efforts, recovered an amount of Rs. 555 crore in impaired credit which helped to improve further bank's achievements.

With 50 branches (Tiruchi district 47 and Ariyalur district three), the Tiruchi region of the bank, had registered a deposit account base of 4.54 lakh customers with a deposit of Rs. 1,156 crore. On the advances front, she said the region had sanctioned advances to the tune of Rs. 788 crore to about 1.54 lakh customers.

The bank has commissioned 13 ATMs in Tiruchi city, besides one each at Lalgudi, Manachanallur and Ariyalur. Mrs. Rao assured that the bank would spare no effort in promoting Micro Small Medium Enterprises (MSME). The General Manager of the MSME Division from the central office would be visiting the city shortly to interact with the entrepreneurs for ascertaining their problems and taking remedial measures. Mayor Sarubala R. Tondaiman was the chief guest.