Allahabad Bank Seeks Rs 80 Cr Loan From Wb

Speaking to newsmen after the inauguration of total computerisation of its Santoshpur branch here yesterday, bank chairman cum managing director Harbhajan Singh said under the programme 260 of the nationwide 1068 branches of Allahabad Bank would be computerised by the year 2000.

Moreover, Singh said since the launching of the modernisation programme a few years ago another 123 branches had already been computrised, either fully or partially at an additional cost of Rs 30 crore. Further leaborating the provisions of the world bank loan under the MIDL programme, Singh said like five other nationalised banks including the Dena-Bank, Bank of India. Indian Overseas Bank and the Syndicate, Bank who availed similar lona-the Bahabad Bank would spend the entire Rs 80 crore in phase during the next two years from its own resources and internal funding and only afber completion of the whole programm programme the entire amount would be reimbursed by the World Bank by converting it to a long term loan to be paid back in several instalments.

 

Stating that the bank had also undertaken a massive infrastructural development programme and set up a high powered committee headed by the general manager to overs the progress, Singh said the committee would not only ensure an all-round development of the bank, but also see that its customer services was improved to a great extent shortly.

We have also decided to broadbase our services to a great extent by further emphasising on the gold services business and giving more was on the international baking division", the chairman said and made it clear that they also proposed to increase the number of Allahabad bank's international branches from seven at present to at least ten by next year end.