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    MITR ATM Sharing Network

    From Wikipedia - Reading time: 8 min

    MITR Network
    Operating areaIndia
    Members6
    Founded8 October 2003

    MITR was a multilateral interbank network sharing arrangement of six member banks in India for automated teller machines (ATMs) that operated between 2003 and 2016. Punjab National Bank (PNB) acted as the settlement bank for the MITR Network

    History

    [edit]

    It came into existence on 8 October 2003 with five member banks, Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), Indian Bank, Karur Vysya Bank and IndusInd Bank with UCO Bank joining later.[1] ATM transaction switching technology was provided by Chennai-based Financial Software Solutions Ltd.

    The sharing arrangement formally ended in 2016 when each of the member banks joined the Indian National Financial Switch directly.[2]

    Competitors

    [edit]
    • Cashnet
    • CashTree
    • BANCS

    References

    [edit]
    1. ^ "PNB, OBC, Indian Bank, UTI Bank, GTB to share ATMs". Rediff. 27 August 2003.
    2. ^ "100 banks join National Financial Switch network as direct members". The Economic Times. 7 December 2016.


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