The Hindu Business Line : Bank of Rajasthan to open more branches, plans GDR issue

FIVE years after he took over Bank of Rajasthan, Mr Pravin Kumar Tayal, Chairman has proposed to strike a different note, courtesy a GDR issue, a branch expansion plan and new initiatives on credit cards and capital market services.

The bank intends to raise capital overseas, details of which were not disclosed.

Clarity on this front is expected by next March.

More branches are being added to expand presence, and States such as Goa, J&K and Jharkhand will be covered in the near future. The idea is to serve areas not covered by the bank's network, Mr Tayal said.

Credit cards will shortly be added to its suite, said Mr B. M. Sharma, Managing Director & CEO.

Currently, the bank offers debit cards.

Distribution of LIC Mutual Fund schemes has also started as part of the bank's plans to augment fee-based income. The bank plans to offer Internet banking facility shortly.

The bank, which has net NPAs of 2.39 per cent (as at September, 2005), is trying to "aggressively" recover non-performing assets.

The NPAs at the moment present a starkly different picture, when compared to the March 1999 position (9.9 per cent), it is pointed out.

Mr Tayal hoped that the bank will grow in stature and become a more national entity.

"We now have over 400 offices, of which some 230 are on-line, covering many important centres," Mr Tayal said, adding that bank plans to install more ATMs.

To talk to States for franking biz

BANK of Rajasthan, which plans to promote stamp franking business, intends to talk to various State governments to offer its services.

The bank hopes to position itself as an agency to facilitate registration.

Stamp franking, Mr Sharma said, has assumed a different dimension after the recent stamp paper scam.

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