National Australia Bank plans to send 400 information technology jobs to India by the end of the year.

On the shortlist for the new deal are Infosys and Oracle who will compete for a billion-dollar, next-generation platform, which will form the key pillar in the bank's technology transformation plan, Program NEOS.

NAB Chief Information Officer Michelle Tredenick told technology staff this week that it was ramping up its offshoring initiatives as part of Program NEOS, in an email quoted by 'The Australian' newspaper.