The prestigious SBI Connect project which got the international recognition of ‘Best Outsourced Project’ by ‘The Banker’ magazine, London during July, 2005 has reached a major milestone with SBI announcing that it has networked 10,000 of its branches and its seven associate banks - the largest network of its kind in India.

The SBI Connect, executed in three phases, networking 1,400, 3,400 and 6,100 branches (currently being implemented) was initiated in 2002. Costing SBI Rs 500 crores and accomplished in 42 months, the bank has partnered with the leading independent IT solutions and services company Datacraft India to achieve this task. This networking initiative will help the banks to offer customers cashless transactions nationwide, reducing costs and treasury applications.

(www.indiaoutsourcewatch.com)