The Hindu Business Line : Syndicate Bank introduces e-banking facility in Madurai

While the latter aimed at helping the farmers in carrying out their farm works relating to cultivation in the short term, the Samvirudthi card aimed at taking into account the composite requirement of a kisan family in the medium term, under which, in addition to helping the development of lands of the kisan, each member of the family is encouraged to take to allied activities, Chairman and Managing Director of the Bank, Mr K.M. Shet, said here. While the metro and urban branches of the bank are brought under the system of centralised banking solution , for the rural branches, the bank has proposals to introduce a system of `hub and spoke' arrangement under which each rural branch would be provided with a couple of computers to carry on the basic computing activities and which, in turn, would be connected to a central hub in the regional offices. This would enable them to attend to the developmental activities of the branch more, he said while addressing the press after inaugurating a new branch here with e-banking facilities. Referring to the performance of the bank, he said that the bank has registered a growth rate of over 30 per cent during the year compared with last year. By end-December, 245 branches would have been computerised and another 255 by June 2006. 250 ATMs would be introduced by this year-end and another 500 would be coming up by June 2006. The bank is seeking the RBI's permission to open a representative office in Dubai and South Africa. Soon Singapore will be included to the list, he added.

To a query, he said the bank at present did not intend to hike the interest rates on housing loans. Upon education loans, he claimed, the bank levied a lesser rate of interest than others.

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