Business Daily from THE HINDU group of publications
Wednesday, Nov 28, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 28, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Software
Our Bureau Mumbai, Nov. 27 Punjab National Bank is in the process of overhauling its IT platform and may change its vendors if necessary, said Dr K.C. Chakrabarty, Chairman and Managing Director. The overhaul is necessary when the bank expands its reach in rural areas under financial inclusion, and as it increases its customer base. Speaking to reporters on the sidelines of BANCON, a banking seminar, Dr Chakrabarty said, “The onus is on us to reach six-lakh villages. I have to find a way to do it. So, we are trying to build up the IT platform. I am not happy with the current platform.” The bank has currently invested Rs 500 crore for its IT systems. As of today, additional investment may not cost more than Rs 100-200 crore, Dr Chakrabarty said. “Costs will not go up too much, only implementation will go up,” he added. The IT vendors for Punjab National Bank are Sun Microsystems for the hardware and Infosys for the software. Scaling up“For the platform, we will look if it has the capability to scale-up as we plan to add another 10 crore customers in the next five years,” he said. While currently 20,000 staff members can access the bank’s IT platform at the same time, the target is to enhance the system to allow 50,000 users at the same time, he added. More Stories on : Software | Public Sector Banks | Punjab National Bank
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