Indian Overseas Bank has earmarked Rs 300 crore for technology upgradation in the bank. R. Koteesearan, MD and CEO of the bank said the bank plans to implement a new CBS platform by the end of this year or earnly next calendar year. The Rs 300 crore would be spent for technology upgradation over a 7-year period, he added. The bank had earlier taken steps upgrade the CBS platform and had appointed Ernst & Young as consultants for the project. The bank would be implementing Finacle CBS.
