BoI introduces Telebanking services

VADODARA, May 25: Bank of India's first commercial and personal banking branch at Ellora Park, was inaugurated by the bank's Mumbai headquar...

VADODARA, May 25: Bank of India’s first commercial and personal banking branch at Ellora Park, was inaugurated by the bank’s Mumbai headquarter General Manager P S Shenoy and Vadodara District Collector A Mukim on Monday morning.

Also inaugurated on the occasion was the bank’s round-the-clock telebanking service for clients of its Ellora Park, Vadodara (main), Alkapuri, Manjalpur and Vidyutnagar branches.

Briefing reporters, Shenoy said that with the view to extend exclusive and specialised services to clients, the fully computerised single window had been opened at the Ellora Park branch.

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This, he claimed, was the first such service to be provided by any nationalised bank in Vadodara.

The customers can, thus, access various details about their accounts sitting at home and with the help of a telephone, he said. Services like information about the outstanding balance, details about the last five transactions, registering request for issuance of cheque book and statement of account could be availed sitting at home, he added.

The new system could also fax statement to clients, he said.Speaking on the occasion, senior bank executives said that it was because of efficient services that the bank had become the most profit-making bank in the country during the past two years.

From the provisional results available, they added, the bank had recorded a growth of 20 per cent in deposits and 25.1 per cent growth in advances during 1997-98 reaching a level of Rs 38,386 crore of global deposits.and Rs 22,939 crore of global advances. The bank’s domestic operations were also equally good recording a deposit growth of 15.21 per cent and 25 per cent growth in credit expansion. The total domestic deposits as on March 1998 were Rs 30,238 crore and advances Rs 17,374 crore, they added.

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According to them, in the Vadodara region comprising Vadodara, Kheda, Anand and Panchmahals districts with 47 branches the bank had crossed a business mix of Rs 1,000 crore with an outstanding level of deposits at Rs 801 crore recording a growth rate of 29.19 per cent and outstanding level of Rs 252 crore in advances.

About computerisation of banks, they said that plans were afoot to computerise all the branches of the bank as well link the main ones through satellite. The bank was in process of opening a specialised branch at Anand exclusively for the NRIs, they added.