Thursday, Dec 18, 2003
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By Our Staff Correspondent
Addressing a press conference here the Chairman and Managing Director of India Switch, Harish K. Murthi, said BANCS included 14 from Swadhan and six of CashTree network of five public sector banks Bank of India, Union Bank of India and Indian Bank, United Bank of India and Syndicate Bank.
Mr. Murthi said the cost would be charged to the issuer bank. In other shared networks, the transaction cost was charged to the acquirer bank.
A customer would also have to pay Rs. 25 per transaction. He said the company was scouting for a strategic partner and was planning to offload up to 24 per cent of equity on a private placement basis.
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