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`No identified surplus staff strength at IOB'

Our Bureau

COIMBATORE, Sept. 18

INDIAN Overseas Bank (IOB), according to its General Manager, Chennai region, Mr R. Natarajan, has ``no identified surplus staff strength''.

Talking to presspersons here, Mr.Natarajan pointed out that the Chairman of the bank had categorically stated this, ``but in such departments where there is surplus, the staff would be redeployed''.

According to the bank's prospectus, while the employee strength declined from 28,734 in 1996 to 28,347 in 1998 and further down to 28,213 in March 2000, the branch network had expanded from 1,354 in 1996 to 1,425 in 2000.

Of these, 350 branches were partially computerised, while 270 are fully computerised. The bank was targeting 1,000 computerised branches before the close of the current fiscal.

Replying to a query, Mr. Natarajan said ```there are about 220 loss making branches, most of which are located in rural and semi-urban areas. The bank has not idea of closing down these, but is intent on finding an alternative method of reviving these''.

The bank proposes to launch Internet banking and e-commerce shortly.

On VRS, Mr. Natarajan said the bank witnessed an exodus every year, particularly after the announcement of the pension scheme, due to various reasons. But, after the announcement of the Voluntary Retirement Scheme, which is more attractive than the earli er one, none of the employees had opted to quit so far.