Mangalore, Oct 16: Public sector Syndicate Bank has singned a memorandum of understanding with Visa International to launch a 'global debit card', its Chairman and Managing Director Michael Sebastian said on Wednesday. The Visa Electron debit card was being designed with various innovative card-based products to meet the needs of different segments of the customers, he told reporters here.

The card products would be within the reach of customers and the bank expected to issue one million debits cards in the next three years, he said.

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The card, "small man's powerful purse", was first of its kind to be introduced by a public sector bank in the country.

Apart from this, the bank's centralised banking solution (CBS), which facilitates electronic banking through multiple deliver channels like ATM, telebanking and Internet banking, envisaged networking 200 strategic branches in the next 18 months, he said.

This initiative would be highly customer focussed and already 15 branches in Delhi, Mumbai, Chennai, Bangalore, Mangalore, Kolkata and Manipal have been brought under "syndicate-e-banking", he said.

The branches offered 24 hours, all seven days and 365 days (24+7+365) "Anywhere, Anytime and Anyhow (AAA) banking facility, he said.

The bank has planned to put in place a robust network of about 300 ATMs and over 100 ATMs were expected to be in place in the next six months, Sebastian said.

As part of CBS, the bank had implemented telebanking services as well at seven centres in the country, offering online instant funds transfer facility and utility payments.

The bank was contemplating to introduce interent banking to both retail and corporate customers shortly, he added. Bureau Report