The Hindu Business Line : SBI's `core' facility

MADURAI: State Bank of India will be introducing core banking facility in 4,000 branches by the end of 2006, according to Mr Bhaskar Niyogi, Deputy General Manager, SBI, Chennai Circle.

The bank has invested Rs 500 crore for core banking solutions and all the branches would be covered under it by 2007, eliminating the delay in the collection of cheques, Mr Niyogi said while launching mortgage loan schemes for traders at Dindigul.

The bank has identified select branches in southern districts that would function as a centralised branch to process and complete all procedures necessary for early disposal of loan applications received by the branches, he said.

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