Lakshmi Vilas Bank to decide on tech move soon

Karur-based Lakshmi Vilas Bank (LVB) is in advanced stage of discussions with top technology companies for implementing a core banking solution across branches. "A final decision will be taken in two months," R M Nayak, chairman and CEO of LVB, said.

"We are looking at two models.One is an ownership model where the hardware, network and data centre will be owned by us, and the other is an outsourcing model," he added.

The bank was also "on track" to bring down its net non-performing assets (NPAs) to 3% by the end of the current fiscal from 4.9%, Nayak said.