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World Bank plans to expand its Chennai operations
Chennai, Nov 16: The World Bank, which started its back office operations in Chennai two years ago, is planning to expand the same shortly, a top bank official has said.
Chennai, Nov 16: The World Bank, which started its
back office operations in Chennai two years ago, is planning
to expand the same shortly, a top bank official has said.
"The idea is to move into a larger 60,000 sq ft own
premises from the existing 27,000 sq ft rented premises so
that we can shift a few more of our crucial back office
operations to Chennai," Fayezul Choudhry, vice-president and
controller of the bank said.
Choudhry, who was here in connection with the just concluded national level e-governance conference, told reporters yesterday that the Chennai operations, which started with 80 staffers to handle some of the basic processing functions, now planned to shift more complex processes like monthly valuation of derivatives to Chennai.
He said the bank's derivatives portfolio was to the tune of USD 100 billion.
Choudhry said the Chennai operations for the last two years had certainly helped the bank to move up in the value chain in respect to back office operations.
A final decision on Chennai expansion would be taken in this fiscal itself, he said, adding that it would take at least nine to 15 months for construction of the new premises.
Bureau Report
Choudhry, who was here in connection with the just concluded national level e-governance conference, told reporters yesterday that the Chennai operations, which started with 80 staffers to handle some of the basic processing functions, now planned to shift more complex processes like monthly valuation of derivatives to Chennai.
He said the bank's derivatives portfolio was to the tune of USD 100 billion.
Choudhry said the Chennai operations for the last two years had certainly helped the bank to move up in the value chain in respect to back office operations.
A final decision on Chennai expansion would be taken in this fiscal itself, he said, adding that it would take at least nine to 15 months for construction of the new premises.
Bureau Report