Earlier, delivering his valedictory address at "Bancit '99", hosted by Infosys Technologies Ltd (ITL) here Vittal stressed the need to prevent cyber crimes.

Expressing concern over slow pace of computerisation in banks, he said he had issued a directive that at least 70 per cent of the business of the banks should be computerised by January 1, 2001. "As of today, out of 65,000 branches of banks in India, only 5,000 have been computerised," he lamented. Vittal also expressed distress that the Indian banking system had very high degree of non-performing assets of Rs 45,000 crore.