CBI to double its business in 3 years : Exe Dir

Panaji, July 21 (UNI) Switching over to information technology solutions and core banking besides winning the customer confidence, the public sector Central Bank of India (CBI) is poised to double its business to Rs.2 lakh crores by March 2009.

''Leveraging IT and winning the goodwill of the old customers to bring them back, strengthening human resources with young blood and management experts, we are determined to double our business to net Rs 2 lakh crores by March 2009 as against the existing Rs 1,05,000 crores achieved since inception 95 years ago,'' said the bank's executive director K Subbaraman.

Interacting with media persons in presence of the bank's general manager Mr K K Gupta and regional manager Mr T N Mahant after addressing the bank managers of the region here today, Subbaraman said the bank had plans to bring 1,000 branches accounting for 80 per cent of its peak business under the core banking network by September 2007.

The CBI had tied up with the Tata Cobsultancy Services Limited for all its turnkey IT solutions. At present, 75 of its 3,157 branch network was under the core banking business.

By march next, the ATM network would also increase to 500 as against existing 180, with four of them in Goa. At the same time, the bank was poised to initiate internet banking in a month or two with all its core branking branches.

Some of the branches in Goa would also come under this critical facility even as it was planned to open 3 more branches to have a total 25 in the island state, he said.

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