BoI Kicks Off Pilot Project For Inter-branch Networking

Mumbai, September 26: | Updated: Sep 27 2002, 05:30am hrs
As part of its technology drive, Bank of India (BoI) has decided to launch a pilot-project in Maharashtra whereby wireless protocol will be used to connect 75 of its rural branches.

The decision has been taken at its recent managing committee meeting, a source with BoI told FE.

This particular project is to connect the rural branches where V-SAT and leased-line facilities are not available, the source said while adding that this facility will be extended to other states at a later stage if the pilot-project is a success.

In its IT-security committee meeting, which took place in the first half of the week, BoI decided to update its security and disaster-recovery programme.

BoI has earmarked Rs 1.2 crore to be spent in this fiscal towards the same.

Further, BoI has plans to networking 10 more branches by the end of this fiscal.

As of now, 275 of its branches in nine cities have connectivity.

It has also planned to install 80 more automated teller machines (ATM) by the end-March 2003, taking the number to 200.

As on end-March 2002, BoI has only 48 ATMs. The bank will introduce bilingual software at 45 more branches.

BoI is making sizeable investments to upgrade its existing technology and extend its computerised programme to larger areas.

As on end-March 2002, 84 per cent of BoIs business was captured on computers with 793 fully and 1,111 partially computerised branches.

The bank has launched Internet-banking at all its dedicated non-resident Indian branches.

In the ongoing fiscal, it would extend Internet-banking facility at all its fully computerised branches. BoI has a core-working group on its IT-upgradation. This group is in constant touch with its IT consultants and the Indian Institute of Science (Bangalore) for advice.