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PSBs catch up in online transactions The public sector banks (PSBs) are increasingly becoming tech savvy to catch up with their private sector counterparts which is evident from the rising transaction by the customers in alternate channels.For the country's largest bank, State Bank of India (SBI), transactions through alternate channels have gone up to 28-30% as against 22% recorded in the beginning of 2009-10. A Krishna Kumar, deputy managing director of SBI, said, "Though the bank had projected a target of 40% of transaction through alternate channels by the end of financial year, it doesn't seem to be possible. Hence, we are looking at reaching at least 30% by March," said Kumar while clarifying that number of persons visiting bank's branches has not led to a fall of customers at the branch."We are having huge addition of customers. On a monthly basis, we are adding nearly 25 to 30 lakh new customers. Still, I do hope that the alternate channels will help ease the rush of customers at bank branches," he said. SBI has 24-25 crore of accounts and 14-15 crore customer base.Punjab National Bank (PNB) has 6 crore customer base and according to Mohan Tanksale, executive...more
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