Question : INTERNET BANKING SERVICE

(a) whether State Bank of India has formulated any scheme to launch Internet Banking and E-Commerce services;

(b) if so, the details thereof and the amount likely to be incurred thereon;

(c) whether some special branches have been selected for this service;

(d) if so, the number of such branches and the details in this regard;

(e) whether the State Bank of India is getting assistance of international consultants for formulating policy on Information Technology; and

(f) if so, the details thereof?

THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL) :

(a) and (b) State Bank of India (SBI) has reported that it is presently evaluating internet banking solution offered by different vendors. No estimate can be made at this stage about the expenditure likely to be incurred.

(c) and (d) The Bank proposes to cover about 25-30 of its NRI branches, Corporate Accounts Group branches and selected Personal Segment oriented branches identified for this purpose.

(e) and (f) SBI has reported that it has initiated the process of selecting international consultants of repute for assisting the Bank in formulating an Information Technology Plan.