Thane Janata Sahakari Bank aims for Rs 5000 cr growth by 2009

Thane, Nov 22 (UNI) The Thane Janata Sahakari Bank plans to achieve a business growth of Rs 5000 crore by 2009 and Rs 10,000 crore by 2011.

Bank chairman Vidhya Vaishampayan and CEO R G Karve, while addressing a press conference here today, said the bank has adopted the latest technology and successfully implemented the core banking solution.

The total business mix of the bank as on September 30, 2007 had crossed Rs 3000 crore, they informed. The bank targets to achieve business mix of Rs 5000 crore by 2009, they said.

The bank, they said, had recently received permission from RBI to upgrade three existing extension counters into full fledged branches.

The bank's proposal to open new branches in Nashik, Pune, New Panvel, and Bhiwandi are under active consideration of the RBI, they said adding that the bank has also received no objection certificates from the RBI, Commissioner of Cooperation and Karnataka State Government to go for multi-state registration.

The bank also plans to relocate the unviable branches of acquired banks to strengthen the base in Pune and Nashik, and also open branches in commercial centers like Nagpur, Aurangabad, and Kolhapur.

Mr Vaishampayan and Mr Karve said the bank intends to go for NFS affiliation to share 7000 ATM centers all over the country. For effective customer service, the internet banking facility is expected to be launched in the first week of February, next year.

The bank, meanwhile, has bagged the Maharashtra State Urban Bank Federation's ''Best Bank in Co-operative Sector'' award under the category of banks having deposits above Rs 500 crore.

UNI