Said ABN Amro's executive vice president and country representative (India) Romesh Sobti "This innovative product will ensure superior product delivery to the consumer and better turnaround time. ALDAS will reduce process cycle time by 30 per cent and enable B2B2C connectivity".

ABN Amro Bank also opened its tenth branch in the country, its first in Hyderabad. Andhra Pradesh Chief Minster, Chandrababu Naidu, inaugurated the branch on Sunday. The bank's branch is designed to serve as a full-service bank, offering the entire gamut of consumer banking products - car loans, personal loans, 365-days banking, `bank by phone', loans against shares and doorstep banking), treasury, structured finance, transaction banking, debt underwriting and distribution, corporate finance, investment banking and fleet management services. Speaking on the occasion, ABN Amro Bank's New Growth Markets senior Executive Vice President, Jan Peter Schmittmann, said.

He added, Hyderabad has emerged as a technology savvy city and a software destination for many IT majors. ABN Amro Bank's entry into Hyderabad, thus, is in keeping with its own bias towards the IT sector".

"ABN Amro is committed to superior customer service. Through a a combination of branch expansion and growth in non-branch delivery channels using a variety of media, like ATM's and internet, will bring a whole new experience to banking," Mr Schmittmann added. Said Mr Sobti "The opening of the Hyderabad branch is in line with our strategy to bring a superior bankingexperience closer to our customers doorstep. The bank also holds licenses to open new branches at Bangalore, Ludhiana and Lucknow." This makes ABN Amro Bank, the only foreign bank to have a dealing room in Hyderabad.

The bank also announced its association with Naandi Foundation, a brainchild of Mr Naidu. Naandi is a non-profit organisation, set-up for improving the quality of life of the poor in Andhra Pradesh. Dr Reddys Chairman Dr K Anji Reddy; Global Trust Bank Chairman Ramesh Gelli; Nagarjuna Group chairman, KS Raju; and Satyam Computers chairman, B Ramalinga Raju, are managing the foundation today.