BoB to hire 100 IT professionals in 2004
Mumbai: Bank of Baroda is planning to hire over 100 IT professionals to develop technological infrastructure for offering core-banking solutions. BoB has also tapped the job market to recruit a human resources development head.

To man its IT upgrading plan, the bank has already short-listed 20 candidates for induction. "We will recruit people in phases as per requirements. In the next 12 to 16 months, we are planning to hire around 100 professionals," general manager V Chandrasekhar was quoted as saying. These professionals will be recruited for a three-year' term and will get a market related remuneration package. BoB board has also cleared its hiring plan.
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L&T Info eyes buyouts in banking, financial services
Mumbai: L&T Infotech, the information technology arm of Larsen & Toubro (L&T), is eyeing acquisitions in the core banking and financial services arena. The need is basically to complement its own activities in this arena. The mandate is to look for companies with strength in corporate and investment banking software arena to complement its own offerings in securities and insurance.

"We are looking at alliances and acquisitions in the banking and financial space," said Y M Deosthalee, CFO, L&T. L&T Infotech has been in discussions with a wide range of companies but nothing has materialised till date because valuations have not favourably worked out. The possible acquisition target could be one that has a marketing face in the US and could provide market support. Also, L&T Infotech could provide the partnership for the Indian market. The company, which registered revenues of Rs 269.5 crore during the last fiscal, has also become the first company to offer end-to-end solutions on mobile phones, Deosthalee was quoted as saying.
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