Bobcards plans 25 more branches

Bobcards India Limited, a wholly-owned subsidiary of Bank of Baroda (BoB), will open 25 more new branches in the country.

Speaking at a business partners meet convened in Hyderabad, S P Garg, managing director of Bobcards India Limited, said that the future plans also included setting up of facilitation centres across major cities in India.

Mentioning that the total volume of credit in acquiring business in India was of the order of Rs 25,000 crore last year, Garg said that in the present scenario, the emphasis was on consumption and expenditure.

"The potential of growth for plastic money and merchant business was very high," he added.

M Ramakrishna Rao, divisional regional manager, Andhra Pradesh region, said that the bank had set a target of setting up 1,000 ATMs this year of which 501 ATMs had already been launched.