SBI chairman Janki Ballabh, setting the pace by inaugurating 12 ATMs in the Bengal circle in just one day, said ATMs will be linked up in the final phase, creating one of the largest networks in the world.He said the technology plan has been finalised and the vendors shortlisted.

SBI plans to set up 300 ATMs by March 31. However, the ATMs will be networked only by the end of 2002.

Apart from prioritising retail banking segment, SBI is aggressively pursuing its Internet-banking plans. According to managing director Vepa Kamesan, the bank has already purchased a switch costing Rs 5 crore from a Singapore-based company for its Internet -banking.

Mr Ballabh and Mr Kamesan were here to inaugurate the 12 ATMs in the Bengal circle, nine of which are within the greater Kolkata. The bank so far had nine ATMs in Kolkata.

At present, the bank has around 200 ATMs in the country, and it plans to have a total of 500 by the end of the current fiscal.

Mr Ballabh pointed out that the bank will be putting up around 1,500 ATMs in the next fiscal, some of which will be offsite ones.

He said the ATMs are the latest models, able to handle a host of functions apart from mere cash withdrawals.