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Bank of Punjab set to go tech-driven

Our Bureau

NEW DELHI, Sept. 26

BANK of Punjab today announced a slew of initiatives for the future including plans to enter the credit card business, setting up B2B and B2C portals and the introduction of online trading.

Announcing this at a press conference organised to launch its latest product, Swagat, a `no minimum balance' savings account, Mr Tejbir Singh, Executive Director, said the bank wants to position itself as a new-generation technology-driven bank.

He said that the bank plans to add 15 more branches during the current fiscal, taking the total branch network to 72. The bank also plans to increase its ATM network from the present 43 to 100 by March 31, 2001, and to 200 by March 31, 2002.

Replying to a question, Mr Singh said the bank plans to take up the marketing of insurance products both in the life and non-life sectors. He said the bank was in talks with several insurance companies for product marketing tie-ups.

Talking about Swagat, Mr Singh said account holders under the offer would could avail themselves of facilities like ATM and debit card, mobile banking, Internet banking, round-the-clock customer care, anywhere banking and doorstep banking. An account hol der will also get an insurance cover.

A Swagat account will also enable customers to avail of a bill payment facility in Chandigarh and Punjab, Mr Singh said.

Pic.:Mr Tejbir Singh, Executive Director, Bank of Punjab, at the launch of new financial products in the Capital on Tuesday.

Picture by Kamal Narang