Financial Daily from THE HINDU group of publications
Friday, Nov 25, 2005
Financial Daily from THE HINDU group of publications Friday, Nov 25, 2005 |
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Money & Banking
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Information Technology PSBs spent Rs 9,487 cr on computerisation Our Bureau
Chennai , Nov. 24 PUBLIC sector banks have spent Rs 9,487 crore on computerisation and development of their communication network till March 2005. According to statistics provided by the Reserve Bank of India in its report , the State Bank group has spent Rs 3,003 crore while other nationalised banks Rs 6,484 crore. The highest spender was the State Bank of India with Rs 2,160 crore, followed by Bank of India at Rs 1,874 crore. The lowest spenders on computerisation were State Bank of Indore at Rs 42 crore and Punjab and Sind Bank at Rs 45 crore. Seventy-one per cent of the PSB branches are fully computerised. About 22 per cent are under partial computerisation. The State Bank of India and all its associate banks, except State Bank of Indore, achieved 100 per cent computerisation. Among the nationalised banks, Andhra Bank and Corporation Bank have achieved 100 per cent computerisation.
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