Looking Forward
Since the last three years, around 3,000 employees have been
recruited and plans are on to employ another 3,000 in the next three years,
Federal Bank Managing Director and CEO Shyam Srinivasan told reporters here.
In the last three years, 340 branches were added across the
country. “We could like to repeat it. However, if economic environment is not
robust, we will have to be careful. The aim is to add 80—100 branches every
year,” he said.
No ATM Fee For Transactions
On proposals to levy charges for ATM transactions, he said
the private lender was allowing its customers unlimited usage of ATMs, however,
maintenance costs is going up.
“We are reviewing the cost. We will see how industry goes
and decide accordingly,” he said.
The bank has so far launched 26 technology products for its
customers. Within two weeks, a new product which would enable easy cash
transactions between customers and merchant establishments would be launched,
General Manager (HR) Thampy Kurian said.
Technology Products
The bank’s technology product ‘Fed book’, which enables a
customer to view transactions for the past several years, was a big hit with
customers.
The bank also offers a facility through which devotees can
provide offerings to temples, churches and mosques through their federal bank
accounts.
The bank has also tied up with white line ATM facilities of
Tata group, Muthoot Finance and Bank Tech, he added.
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