Bank Of Maharashtra Plans Recast

Bank of Maharashtra is planning a restructuring to expedite its decision-making process and offer better service to customers. It is also going to adopt improved technology.

The bank is also going to commence its rural branch mechanisation project this year after which comprehensive data relating to the bank's business will be captured on computers.

Chairman and managing director S C Basu said: "In the changed scenario, we need to go for restructuring of the bank's decision-making process to provide faster service. We are also introducing changes in information technology in the bank's activities."

"The rural branch mechanisation project will help the bank take informed decisions including effective assets liability management," he added.

 

"This is a need to retain the old customers as well as gain the new ones as the industry has become customer-friendly. We have just started the process of restructuring and the new formation is likely to be introduced by the year-end," he said.

Bank of Maharashtra is also planning to establish inter-branch connectivity at selected centres such as Mumbai, Pune, New Delhi, Kolkata, Chennai, Bangalore and Hyderabad. "We will go for inter-city connectivity in the second phase and, accordingly, our staff is being trained in our own information technology training institute in Pune," said Basu.

Bank of Maharashtra is also going to establish 'Touch Screen' query terminals at 88 branches in various cities. "We have already captured 77.72 per cent of our business on computers against the requirement of 70 per cent and hope to reach at least 80 per cent by the end of next fiscal," Basu added.