Federal Bank ties up with BMRCL -Governance Now

Federal Bank ties up with BMRCL

To provide ethernet-based EDC machines at stations, top-up services like ATM, internet browsing, IVR, mobile banking and issuance of combo cards

PTI | May 29, 2012

Federal Bank has tied up with Bangalore Metro Rail Corporation Limited (BMRCL) for providing merchant banking and card top-up services for 13 stations in Reach 2, likely to be commissioned by the year end.

Federal Bank MD and CEO Shyam Srinivasan said the bank would provide top-up facility for smartcard users for 'Namma Metro'.

The bank would provide ethernet-based EDC machines at BMRCL stations, top-up services like ATM, internet browsing, IVR, mobile banking and issuance of combo cards, he said.

To a query, Srinivasan said initially Federal Bank would not look at business volume. "When traffic picks up, I am expecting 10 lakh to 15 lakh commuters using Namma Metro, then everybody potentially is our customer," he added.

BMRCL Managing Director Srisailam said BMRCL would like to have other banks as its partners. "The idea is to have as many partners and make as much money for the metro," he said.

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