The Hindu : SBI Chennai Circle's tech initiative

Online edition of India's National Newspaper
Wednesday, May 21, 2003

Business

Business

SBI Chennai Circle's tech initiative

By Our Corporate Reporter

CHENNAI MAY 20. State Bank of India has been making major strides in technology implementation to expand its customer base. The Chennai circle has fully computerised 385 branches covering 92 per cent of the total business. Addressing presspersons here today S. Krishnamurthy, Chief General Manager, Chennai Circle, said the plan was to computerise the remaining 205 branches by December this year. At the all India level SBI was having 3,691 computerised branches, he said.

The single window system, whereby customers could complete all the transactions in a single counter, was successful. Already eight branches were offering this service and the bank was now working to introduce this facility in 35 more branches. The CGM said the plan was to cover all the fully computerised branches by the end of the year. The project for networking branches was progressing well and 1,400 branches in 49 centres had already been covered at the all India level.

In Chennai Circle 139 branches in six centres had been covered under phase I of the project, Mr. Krishnamurthy said. Internet banking had been introduced in 60 branches and it would be expanded to 139 branches by July this year, he said.

Commenting on the performance the CGM said the Chennai circle had recorded an excellent growth in the financial year ended March 31, 2003 with the total business at Rs. 24,636 crores. While all the market segments cumulatively contributed to the overall healthy growth, the contribution from the personal segment was Rs. 1,163 crores, he said.

According to V. Sreenivasan, General Manager (Development and Personal Banking) aggregate advances of the Chennai circle stood at Rs. 10,290 crores as on March 31, 2003 with personal segment advances recording a healthy level of Rs. 2,500 crores.

To streamline the delivery platform and to ensure the convenience of customers, the bank had opened eight special personal banking branches.

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