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IndusInd Bank plans Rs 50 cr IT expansion in FY `04
Mumbai, Aug 03: IndusInd Bank Ltd has earmarked Rs 50 crore in the current fiscal for upgradation of its Information Technology (IT) infrastructure, including setting up of high-end IBM servers, a robust networking infrastructure and purchasing of other computer hardware.
On the growth in gross domestic product (GDP) for 2003-04, the banking group said better-than-expected agri production and rise in the industrial production would help economy to grow at 6.3 per cent.
The good agriculture output due to healthy monsoon would ease the current pressure on the prices of primary products. Along with lower oil prices, this would bring down inflation to four per cent level, Citigroup added. "We are upgrading IT infrastructure to improve efficiency of our services and expand retail base. This also includes new retail intiatives like widening of direct sales and marketing network," IndusInd Bank managing director Bhaskar Ghose said.
The new IBM servers would be installed for day-to-day operations, retail initiatives and Disaster Recovery Planning (DRP) sites, Ghose said adding, the bank is planning to set up DRP sites in Hyderabad.
The mirrored DRP sites would be set up in Hyderabad, due to the city's cost-efficiency, while the main servers would be installed in Mumbai, he added.
A part of the proposed amount would be used for setting up a networking infrastructure for the bank's to be launched direct banking channels, he said adding, it would launch internet, mobile and phone banking channels `soon'. The mirrored DRP sites would be set up in Hyderabad, due to the city's cost-efficiency, while the main servers would be installed in Mumbai, he added.
A part of the proposed amount would be used for setting up a networking infrastructure for the bank's to be launched direct banking channels, he said adding, it would launch internet, mobile and phone banking channels `soon'.
This is being planned for "ease of connectivity and operations", he said adding, IndusInd Bank already has a centralised customer service and support system in place. Bureau Report
The good agriculture output due to healthy monsoon would ease the current pressure on the prices of primary products. Along with lower oil prices, this would bring down inflation to four per cent level, Citigroup added. "We are upgrading IT infrastructure to improve efficiency of our services and expand retail base. This also includes new retail intiatives like widening of direct sales and marketing network," IndusInd Bank managing director Bhaskar Ghose said.
The new IBM servers would be installed for day-to-day operations, retail initiatives and Disaster Recovery Planning (DRP) sites, Ghose said adding, the bank is planning to set up DRP sites in Hyderabad.
The mirrored DRP sites would be set up in Hyderabad, due to the city's cost-efficiency, while the main servers would be installed in Mumbai, he added.
A part of the proposed amount would be used for setting up a networking infrastructure for the bank's to be launched direct banking channels, he said adding, it would launch internet, mobile and phone banking channels `soon'. The mirrored DRP sites would be set up in Hyderabad, due to the city's cost-efficiency, while the main servers would be installed in Mumbai, he added.
A part of the proposed amount would be used for setting up a networking infrastructure for the bank's to be launched direct banking channels, he said adding, it would launch internet, mobile and phone banking channels `soon'.
This is being planned for "ease of connectivity and operations", he said adding, IndusInd Bank already has a centralised customer service and support system in place. Bureau Report