Federal Bank pact with Bangalore Metro for automatic fare collection

Federal Bank will be the merchant bank for automatic fare collection for 13 stations of the northern reach of Bangalore's ‘Namma Metro'.

Northern reach

The northern reach is expected to be commissioned in December this year.

The bank, which exchanged an MoU with Bangalore Metro Rail Corporation Ltd on Monday, will provide the required top-up facility for all smart card users of Namma Metro.

The 12.4-km northern reach stretches from Sampige Road to Nagasandra.

Mr Shyam Srinivasan, Managing Director and CEO, Federal Bank, said that the bank was keen on availing opportunities such as the Namma Metro projects, alongside opening branches.

Strengthening presence

“We have been focusing on strengthening our presence in Bangalore, and enhance our customer offerings,” he said.

According to Mr N. Sivasailam, Managing Director, BMRCL, Federal Bank was selected through a competitive bidding process.

Facilities

Federal Bank will provide facilities such as Ethernet-based machines at metro stations, topping up of cards through the bank's ATMs, Internet banking, mobile banking and its point-of-sales terminals, and issuance of ‘combo' cards.

anju@thehindu.co.in