conduct transactions at the ATMs of any of the member banks located in the
neighborhood. The services offered under SPNS are cash withdrawal, balance enquiry,
cash/cheque deposit, transfer of funds, request for cheque book, standing instructions and
statement of account, and change of PIN. The ATMs of member banks are connected to a
Central Switch through MTNL leased lines. The Central Switch which is the heart of the
SWADHAN network is located in Dadar and is connected to three zonal hubs. These hubs
are located in Chembur, Fort and Andheri. The ATM in a particular area is connected to
the nearest zonal hub. The cardholders database is kept at the Central Switch. Banks
update the balances at the Switch at predetermined frequencies. On a daily basis the
Switch provides settlement reports necessary for arriving at interbank settlement. Bank
of India, a public sector commercial bank, acts as the settlement bank for all interbank
transactions in SWADHAN. Every member bank has to maintain a deposit of Rs.25,000/
with the settlement bank.
• Generally, ATMs must tell you they charge a fee and its amount on or at the terminal
screen before you complete the transaction.
• Most commercial banks have their own ATMs. In the case of smaller banks they
piggyback, at times, on the ATMs of larger banks to allow their customers access to
money outside banking hours.
• Internet Banking permits an account holder to access his account by a computer from
home or other remote location and issue instructions.
• The account is accessed by the account holder stating a unique identification customer
number and a password.
• Customers can:
• Ascertain their account balance;
• Transfer amounts from one account to another;
• Arrange for the issuance of a cheque;
• Instruct payments to be made;
• Request for a cheque book;
• Request for a statement of their account;
• Make a fixed deposit.
• There is a confidentiality issue as hackers could get vital numbers and then withdraw
• The integrit