Bank of Baroda has said that it is currently focussed on boosting the capacity of alternative delivery channels (ADCs) and has chalked out a budget of Rs.500 crore for the same. It is also in the process of adding 7,000 new jobs for officer and clerical levels during the current year.
With more and more customers embracing modern technology to save time and costs, banks are also transforming to serve customers better by providing alternative delivery channels such as ATM, Internet or online and mobile.
The transactions through these electronic or ADC modes have been on the rise, and going forward a significant portion of traction is to happen through these modes.
“We are enhancing the capacity of ADCs in a bid to meet the diverse needs of different customers. First, we are ramping up our ATM network, and by the end of this fiscal, we intend to increase the number of ATMs to about 6,000 from 2,600. The number has already crossed 4,600,” S. S. Mundhra, Chairman and Managing Director, said.
The bank has also opened self-service 24x7 35 e-lobbies (equipped with cash dispensers, cash acceptors, cheque deposit machines, Internet banking kiosks, self-service passbook printing kiosks, and hotlines to the bank’s call centres) have been opened across the country and 15 more are to be opened before this year-end.
Other initiatives include self-service passbook printing kiosks in 1,500 branches and cash acceptors in smaller centres, among others.
At present, ADCs account for about 53-55 per cent of transactions, and it is expected to increase to 60-65 per cent soon.
Mr. Mundhra was in Chennai to announce the opening of 31 ATMs in the Tamil Nadu and Kerala zone and launch online payment facility for the users of Ennore Port.
