It has invested about Rs 5 crore in a new staff training centre and is in negotiations with the leading management institutes for a tie-up to make inroads into banking research. Under the State Bank of India (SBI) guidelines, the bank would be sharing its projects with all the SBI branches.
With the implementation of the voluntary retirement scheme (VRS) by the bank there is a increasing pressure on the efficiency of the existing staff, said Mr P Bajpai, assistant general manager, SBBJ told FE on Monday.
With the new set-up, the bank plans to get into research based activities for its own products as well as technical areas like treasury management, employee behavioural sciences and risk management areas. Even as the exact investment on the set up was was not disclosed, it is estimated that the Bank would have spent about Rs 5 crore in the new building and infrastructure which includes a state-of-art software laboratories.
With a state-of-the-art building the centre with a built-up area of 60,000 square feet is equipped with a sixteen terminal cyber-cafe, 45 terminal computer lab and a modern hostel complex.
For the new fiscal, the bank has resolved to reduce its non-performing assets to less than 2 per cent by 2005 from a whopping Rs 616 crore in March 2002.
Amongst the other plans it has decided to take on the defaulters in a big way by taking advantage of the new legislation on Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.
In the area of rural credit SBBJ has been able to bring about a rise in the rural credit flow to Rs 400 crore primarily as rural credit by the end of November this year.
The bank also managed to increase 42,824 kisan credit cards over the target of 42,000 by the end of previous fiscal.
The bank has strengthened its rural infrastructure with establishment of more branches in Rajasthan as well as computerising almost 83 per cent of its business.