Saturday November 10 2007 10:54 IST ENS
BHUBANESWAR: Punjab National Bank has achieved total core banking solution (CBS) operations in Orissa with implementation of the facility at the branch office at Saralapadar in Gajapati district.
The achievement comes in the wake of its ongoing expansion exercise by adding six new branches to its existing 56 branches and one extension counter in the State. The new branches would be at Balangir, Rayagada, Bhawanipatna, Berhampur, Phulbani and Daringbadi. The ATM network would be raised to 23 with opening of five more at Jharsuguda, Sundargarh, Bhubaneswar, Baripada and Barbil by November-end. By December-end, 30 more ATMs would be added to the list, according to Zonal Manager BP Sharma.
Emphasising greater focus on the backward and interior regions of the State, Sharma outlined that PNB was set to start financial inclusion initiatives in the tribal-dominate Mayurbhanj district on a pilot basis.
It is also taking initiative to open two specialised Agriculture Finance branches in the State while it has received inprinciple approval from RBI to open Currency Chest/small coin depot at Jharsuguda to exclusively meet the cash requirement of Western Orissa.
The chest would be operational in the first half of next year.
The bank has been posting a significant business growth in the State. Business has risen by 48 percent to Rs 1,835 crore as on September 30 this year from November 24 last year. The CD ratio which was 54.27 percent has improved to 58.37 percent.
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