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SBI plans 1,000 ATMsMUMBAI: State Bank of India SBI is working on a technology plan' to provide anywhere, anytime banking' facility to...

SBI plans 1,000 ATMs
MUMBAI: State Bank of India SBI is working on a technology plan8217; to provide anywhere, anytime banking8217; facility to its customers by March 2002 through installation of 1,000 ATMs across the country. A technology consultant from among the seven who made presentations would be appointed soon to draw up a technology plan that will take care of the requirements for the next five to 10 years, SBI chairman G G vaidya told reporters today after inaugurating a Millennium Branch8217; in Central Mumbai, the first which will remain open for 12 hours a day for all seven days.

Vaidya said the total cost of the technology plan is estimated to be in the region of Rs 500 to Rs 700 crore. SBI would soon be launching internet banking in mumbaifor nri customers and extend it to other centres gradually.

Nayak becomes new UTI Bank CMD
MUMBAI: PJ Nayak has joined the UTI Bank as its chairman and managing director with effect from January 1, 2000. Prior to his appointment at the helmof the affairs of the new private sector bank, Nayak was working as the executive trustee of Unit Trust of India UTI, the promoting financial institution for UTI Bank. Before joining UTI, Nayak was with the Finance Ministry.

200 staffers opt for retirement: ICICI
MUMBAI: Financial firm ICICI Ltd said on Monday over 200 employees had opted for a voluntary retirement scheme VRS.quot;Of this, almost 80 percent of the employees were nonprofessional staff. Subsequent to the VRS, the aggregate number of employees in ICICI stands a little over 1,000 which is the lowest in the last decade of ICICI8217;s operations,quot; a statement from ICICI said.

JB Chemicals to set up 100 EOU
MUMBAI: J B Chemicals and Pharmaceuticals Ltd proposes to set up the state-of-art, 100 per cent export oriented unit EOU at Panoli, near Ankleshwar to manufacture large volume parenterals LVPs, based on form-fill-seal FFS technology.The new plant will have a capacity of 1.50 crore units for the first year, which willbe increased to three crore units in a priod of two-three years. The project outlay is estimated at close to Rs 20 crore and is to be financed mainly through internal to go on stream by April 2001.