Indian Bank to invest Rs 97 cr to expand CBS, ATM

New Delhi, May 31: Indian Bank has announced plans to expand its Core Banking Solution (CBS) and install ATMs in all its branches with an investment of Rs 97 crore.

While Rs 70 crore have been earmarked to cover about 900 branches of the bank under CBS, Rs 27 crore would be utilised to install ATM facilities in all its branches.

''With 509 branches at present covered under CBS, the remaining about 900 branches would be brought under CBS by this financial year, with an outlay of Rs 70 crore,'' Indian Bank Chairman and Managing Director D C Chakrabarty said.

''The bank, which has 388 ATMs now, has plans to install the facility in all the branches, which have been computerised, for which Rs 27 crore would be earmarked,'' Dr Chakrabarty said, while launching its 1401st branch here yesterday.

He said the bank has targeted to achieve 20 per cent business growth and 25 per cent credit line growth during the current fiscal 2006-07.

As part of its centenary celebrations, begining from August 15 this year, it was working out plans to introduce various schemes for the benefit of customers. It also plans to increase sale of gold coins to increase its income, a release issued here said.

UNI