Bharat Overseas Bank’s Rs 20-cr IT plan
Our Banking Bureau
9 July 2002
Kochi: Bharat Overseas Bank Ltd is
planning to computerise its branches and introduce a centralised
banking solution with a database, apart from offering
various services to its customers.
The bank has earmarked an investment of Rs 20 crore for network
upgradation, which will be completed by 31 March 2003, says Bharat
Overseas Bank chairman G Krishna Murthy.
Murthy, who is here in connection with the inauguration of the
renovated premises and computerised operations of the bank, says
Tata Consultancy Services has been appointed as the consultant and
project manager for implementing total IT solutions. The bank is
planning to adopt a state-of-the-art technology for
interconnectivity, resulting in anywhere, anytime banking in
course of time.
As a first step towards this, the bank has launched its website
to provide information on various products and services, and
network of branches. It has also become a member of the Society
for Worldwide Inter-Bank Financial Telecommunication, thereby
enabling to offer services to its exporter or importer clientele
and non-resident Indian customers, says Murthy.
The bank is also in the process of expanding its branches to
100 from the present 78 by the end of 2004. The branch expansion  process
will start only after the completion of IT upgradation, Murthy
adds.
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