The Hindu Business Line : Indian Bank plans CBS at all branches

Indian Bank intends to bring all branches – 1,475 existing ones and 50 more to be set up – under core banking solutions (CBS) by the end of the financial year, according to Mr M.S. Sundara Rajan, Chairman and Managing Director.

In an interview here on Sunday, after inaugurating the centenary celebrations of the bank, he said that currently 1,171 branches were under CBS and “the rest of them, as well as the 50 new branches, would be under CBS by the end of the financial year. Of the 50 new branches, four would be in Vizag circle”.

Currently, he said the bank has 471 ATMs and a hundred more would be added during the current financial year. “We are giving priority to agriculture, educational loans and loans to self-help groups. The recovery rate for loans given to SHGs is as high as 99 per cent,” he said.

The net NPA of 0.28 per cent was the lowest in the industry, he said, and all efforts were being made to bring it down to zero level.

He said the bank had bagged an award for mobilising the highest number of blood donors in Tamil Nadu.

Mr N. Janardhana Rao, Assistant General Manager in charge of the Vizag circle, said the deposits in the circle amounted to Rs 674 crore and the advances Rs 664 crore.

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