Financial Daily from THE HINDU group of publications
Tuesday, Aug 13, 2002
Financial Daily from THE HINDU group of publications Tuesday, Aug 13, 2002 |
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Money & Banking
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Public Sector Banks Union Bank to spend Rs 150 cr on tech upgrade Our Bureau
KOCHI, Aug. 12 UNION Bank of India is implementing a centralised core banking solution in the sphere of technology upgradation by investing Rs 150 crore in the next two to three years. The bank had tied up with two IT majors, Wipro and Infosys for the programme and much of the investments would in the form of hardware and software, Mr M.S. Sundararajan, Deputy General Manager said at a press conference here on Monday. The core banking solution was aimed at operational efficiency through reduction in costs of transactions. The bank had already commenced initial steps in this regard by networking 500 of its top branches covering 60 per cent of the business, he added.
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