Govt-owned banks go for core banking platform

MUMBAI:
More and more than government-owned banks are moving towards complete inclusion of
their subdivisions on the core-banking platform, which will enable their customers
to entree their business relationships from any location. State Depository Financial Institution of India, Union Depository Financial Institution of
India and Punjab National Depository Financial Institution have got made it clear they are looking at 100%
implementation of core-banking solutions (CBS) across the
country. Currently, SBI has
7,200, or 75%, of its sum subdivision web on the core-banking platform. A bank
official said that they were aiming at a 100% CBS-rollout by March adjacent twelvemonth as
well, though some of its distant subdivisions might have got to be included as and when
the connectivity jobs are resolved. The depository financial institution have got the regulating approval
to raise its 9,500-strong subdivision web to 10,000 by the end of this fiscal,
and further subdivisions will also be on the
CBS-platform. Union Depository Financial Institution of
India announced the rollout of its 1,501st subdivision under the core-banking network
on Thursday, and claims to have got added over 550 of those in the past three months
itself. It bes after to convey all its 2,300 subdivisions under the core-banking platform
by March 2008. Union Bank
chairman and managing manager millivolt Nair said that the remaining 800 branches
would be brought under the core-banking network by March 2008, even though
almost 300 of them are in rural countries and endure from connectivity issues. “Our connectivity solutions supplier VSNL have promised us the availability
of leased lines for these 300 branches. Even if that makes not happen, we will
make usage of V-Sat connections,” he
said. The depository financial institution have spent Rs 150
crore to revolve out its CBS-branches sol far, Mister Nair said. He added that Union
Bank would be disbursement Rs 250 crore on its technological trading operations this year,
including passes on data-warehousing, standard atmosphere web and its phone call centre. The bank
also announced the launch of its samariums banking services on Thursday. In its
initial stages, the clients will be offered balance inquiries, check status
inquiries, business relationship and payment alarms on the samariums service. Going forward, the
bank will look at offering mobile-payment solutions as well, said Mr
Nair. Meanwhile, Depository Financial Institution of India
claims it will attain the 1,500-mark for its core-banking enabled subdivisions by
March adjacent year. In the past, most public-sector Banks had maintained that
complete execution of CBS would be impossible owed to the big figure of
rural subdivisions they have. Other authorities owned Banks like Corporation Depository Financial Institution and
SBI’s associate Banks already have got all their subdivisions on the CBS
platform.