[sbinews] SBI injects Rs 250 cr into CBS system (Economic Times)

  • From: Rajendra S.Pai <rajendra.pai@xxxxxxxxx>
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sun, 30 Nov 2003 00:08:39 +0530

SBI injects Rs 250 cr into CBS system
CHANDIGARH : Having initiated the Core Banking Solution (CBS) as a 
pilot project and the creation of centralised data base 
from August last in 6 branches across the country,the State Bank of 
India(SBI) has chalked up plans to interconnect at least 300 
of the 9000 plus branches countrywide within a year?s time.  Already, to 
achieve this feat, points out the bank?s MD Mr P N 
Venkatachalam, nearly 200 people in Mumbai involved in customising the 
CBS for bank?s operations to provide ?anywhere 
banking? are working overtime in making the project a success.  This 
endeavour as well as computerisation at all levels including 
the installation of ATMs will involve an investment of Rs 500 crore.?Of 
this amount nearly half has already been injected into the 
system,? he indicated.The rest is proposed to be invested over the next 
2-3 year period.  Mr Venkatachalam told ET here today 
that as part of its CBS some 3,000 branches will eventually be 
interconnected within a span of three years.These branches alone 
will handle nearly 90 per cent of the bank?s total business. In its bid to 
become more technology savvy, the bank has already 
automated over 7,000 branches out of a total of 9,000 plus countrywide 
and 5 circles includingChandigarh, Bhopal , Bangalore , 
Kerala and Chennai have been fully computerised.  However,by July next 
all the banks branches will stand fully 
computerised.Whats more, the Chandigarh Circles with 668 branches has 
achieved the distinction of having implemented the 
single window system(SWS) in the states of Punjab , Haryana, Himachal 
Pradesh, J & K and UT Chandigarh.  
He said to give the customer service at one point of contact,the bank was 
now aggressively pushing the concept of the single 
window delivery and so far 4,500 branches has been hooked on to this 
system with the target of completing the work by end of 
2003-04.When pointed out about the apprehension of the members of All 
India State Bank Officers? Federation of the move to 
privatise the bank, Mr Venkatachalam ruled out any such possibility at 
this juncture and said that the SBI was committed to the 
society and had a social obligation to fulfil meaning that it will continue to 
operate the plethora of branches in the rural areas to 
service all class of people.After all, he said ? We are a bank at heart.? 
He said as part of the CBS an integrated trade finance solution was also 
being customised for the bank?s operations and the 
bank had selected this new trade package called Exim Bills and China 
Systems to replace its existing IBSnet.This solution which 
is in the process of being implemented will eventually bring in efficiency 
in handling trade finance transactions. 
The bank he said will continue to lay emphasis on retail banking as well 
as gear up its loan portfolio espec

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