The bank plans to issue 30,000 credit cards in the short term, 10 per cent in the gold category and 90 per cent in the classic category. The card, which has a tie-up with Master Card, will have revolving credit facility, cash advances against credit cards, 24 hour helplines, draft on demand, add-on family cards, gourmet guide, gold values and card discounts and exclusive teleticketing services.

Some exclusive features like 50 per cent off on one add-on card free for the first year, 50 per cent of the processing fee on BoM loans, 25 per cent off on draft preparation charges at BoM, waiver of outstation cheque clearing charges for card holders would also be available.

By January 2000, BoM would have a slew of hi-tech facilities and products in place which includes Internet banking, debit cards and so on. The bank has already started providing customers the option of linking fixed deposits to savings accounts which would also facilitate debit card holders.

A sum of Rs 20 crore was being spent on networking 130 branches (out of a total of 278 branches), which bring in 90 per cent of the business. Fifteen new branches are being set up at a cost of Rs 50 lakh each to cover areas where the bank feels there is good business potential. An ATM network is also being planned, where the credit cards could further be put to use.

Starting with ten ATMs in the larger cities, these would gradually be installed in a phased manner in smaller places as well.