CENTRAL BANK OF INDIA PREPARES FOR AN IMAGE MAKEOVER

Mr. S. Sridhar, Chairman and Managing Director, Central Bank of India said that the bank had completed first phase of core banking solution offering and hoping to have 100% coverage by March 2011. The bank is also set to purchase 1000 ATMs and introduce a number of technology initiatives. As of now, the bank has already been offering SMS alert, mobile and internet banking service apart from others and will soon offer the entire range of customer-centric services.


The bank is also looking to redesign its branches in some places, has kicked off massive HR training programmes to rejuvenate its people and is in the process of revamping its business processes.


The Chairman has also said that specialised asset recovery branches have been instituted to improve delivery mechanism and branch interiors are being given a face-lift to provide more spare for customers. The treasury department has been revamped and some new products are in the pipelines.


The bank, which has a huge customer base of over 25 million, is aggressively enrolling Business Correspondents to further strengthen its presence.


The bank which has a branch at Behrain is aiming to strengthen its overseas presence and looking at having representative offices in Africa and South-East Asia.


Source: http://www.thehindubusinessline.com/2010/01/21/stories/2010012151970600.htm