BoR in tech partnership with Infosys

MUMBAI, JULY 29: The Bank of Rajasthan (BoR), one of the oldest banks of India, has announced technology partnership with the country’s leading software company Infosys Technologies for networking its 310 branches spread across the country and provide anywhere and anytime banking.

Its capital adequacy ratio (CAR) has risen from 0.83 per cent to 5.73 per cent and is expected to touch 9 per cent during the current financial year after conversion of warrants, Tayal said. The bank has achieved a record NPA recovery level of Rs 52 crore before March 31, 2000 and it is expected to recover Rs 100 crore by this year end.

The bank has appointed Pricewaterhouse Coopers to improve profitability from treasury operation and KPMG has been given the task of restructuring and formulation of IT strategy, credit and advances in the bank. Stressing on the importance of catching up with the technology, Narayana Murthy quoted a recently conducted survey "the cost of conducting a small bank transaction manually will be around Rs 80 while the same transaction through ATM will cost anywhere between Rs 20-30, instead if the transaction was done through Finacle software it will cost only Rs 3".