Customers of AP Mahesh Co-operative Urban Bank will now be able to transfer funds from their accounts to other locations across the country in no time. According to Mr Ramesh Bung, Chairman of Mahesh Bank, the bank was admitted as member of the National Electronic Funds Transfer (NEFT) system of the Reserve Bank of India (RBI). “This will enable customers to transfer their funds, even small amounts across India instantaneously,” Mr Bung said in a release. Mahesh Bank had also got approval from the RBI to open three more branches at Champapet, Seethaphalmandi and Chintal in the State capital. In addition, two more branches — at Banjara Hills and Attapur in the city — and an ATM at Begum Bazar would be opened shortly. This would take the total number of branches to 36. Plans were also afoot to become the member of National Financial Switch ATM network through which customers can transact their business through more than 70,000 ATMs spread across the country, the released added.
Business Line
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