"The agenda of the bank is to computerise 500 of its 1,800 branches," Singh said. The bank has computerised 264 branches since 1994-95.

"This computerisation will cover 70 per cent of Uco's total business and cost Rs 120 crore," he said. The computerisation will be done in phases and end in March 2002.

The objective is to network 40 top industrial centres in the country through its branches, Singh said.

"The computerisation programme will slash UCO's operational and transaction cost drastically. The bank's will increase its per employee business from Rs 73 lakh to Rs 1 crore by 2001," said Singh. At present, the bank has 32,086 employees.

PN Choudhary, deputy general manager of computer policy and planning, said the programme is in line with the Central Vigilance Commission's prescription on private sector banks to computerise its operations.

Choudhary said: "The bank will spend Rs 71 crore till December 2000. The system will use LAN, V-sat connectivity and stand-alone base network for advanced ledger-posting machines." Commenting on the excess employee situation which may arise after the 70 per cent of the business is computerised, Choudhary said: "There is no plan to give VRS. If there is excess manpower we plan to run some branches on two shifts which will also help us to increase our business."

PS Raghupathi, general manager for credit and international banking said: "The bank is also launching millennium gold coin mementos to be sold through its branches.