Calcutta, April 20 :     UTI Bank has entered into a partnership with Infosys Technologies to begin internet banking by the month-end. Bank chairman, P.J. Nayak told The Telegraph that the bank has also roped in Wipro Ltd as its facilities manager to design and implement the plan as also to instal a totally connected network, linking all its branches. 'We have been working with Infosys for the last few months as it is our partner in this major effort and Wipro is putting everything together,' Nayak, who was Unit Trust of India's executive trustee till January, said. He, however, clarified that the bank had no immediate plans for an American Depository Receipt (ADR) issue to raise funds. At present, UTI Bank's website offers the facility to download application forms for opening accounts and ATM cards and takes care of the requirements of NRIs and other clients for depository services. Though Nayak said UTI Bank was pumping in a lot of money to upgrade the organisation's infotech backbone, he refused to quantify the amount. UTI Bank's board will meet shortly to finalise the year's financial results. The bank's capital adequacy at the end of 1998-99 stood at a healthy 11.64 per cent (with tier I capital at 11.60 per cent) as against the prescribed benchmark of 8 per cent. Nayak said the capital adequacy for 1999-2000 had improved remarkably with the bank issuing a Rs 100-crore debenture issue to boost tier II capital. The issue closed on March 31. Together with Infosys and Wipro, UTI Bank is set to storm the stronghold of the more organised ICICI Bank and HDFC Bank. The bank plans to link its entire branch network with ISDN, dial up and leased lines connections. It is also moving towards a centralised operational structure and a centralised database. At present, UTI Bank is poised to offer a full range of retail load products.The bank completed its fifth year of operations in March 1999 and is understood to have witnessed a good growth in business and profit in 1999-2000. According to the Reserve Bank of India's guidelines on private banks, UTI Bank made an offer in 1998-99 for the sale of two crore shares and a simultaneous public issue of 1.5 crore shares each of Rs 10 at a premium of Rs 11. The offer for sale cum public issue received an excellent response from retail investors and was oversubscribed. As a result of the public issue and the subsequent exercise of the greenshoe option, the bank's paid-up capital went up to Rs 131.90 crore with a sum of Rs 16.22 crore accruing to the share premium reserve as on March 31, 1999.