Targeting a business of Rs.5 lakh crore by this fiscal-end, the Central Bank of India (CBI) plans to open new branches and ATM centres, particularly offsite, in south India.

“We plan to open at least 500 branches in the country during this fiscal and 25 per cent of them will be in south India where there is good scope for business,” Malay Mukherjee, Executive Director, Central Bank of India, told reporters here on Wednesday.

After inaugurating a full-fledged Yadava College branch with safe deposit lockers and ATM facility at Bank Colony, he said offsite ATMs would be opened in bus stands, railway stations and petrol pumps. “We’ve outsourced our ATM operations. Since there are some constraints in the model, we want to have our own ATMs,” he said.

New branches with ATM facility will be opened in rural and semi-urban areas. The bank with 4,300 branches and 42,000 employees recorded a business volume of over Rs.4 lakh crore. Innovative schemes such as ‘Cent Kalyani’ to provide loan for woman entrepreneurs and ‘Cent Matskanya’ for fisherwomen had been launched, he added.

M. Elangovan, Field General Manager, said the Yadava College extension counter had been converted into a branch. Principal in-charge M.J. Manoharan, Regional Manager S. Asaithambi and Branch Manager T. Ratnakumar were present.