The Gujarat State Cooperative Bank (GSCB) and district cooperative banks have decided to implement core banking solutions (CBS) for providing efficient banking services to their customers. The 11 co-operative banks in Gujarat - GSCB and 10 district cooperative banks in Ahmedabad, Vadodara, Bharuch, Bhavnagar, Jamnagar, Kodinar, Rajkot, Sabarkantha, Surendranagar and Valsad — signed the agreement for CBS with Tata Consultancy Services (TCS) on Tuesday in Ahmedabad.
This is expected to enhance their customer base in both rural and urban segments.
Besides enabling faster services, their decision to bring technology into play will open up possibilities of providing new cost-effective banking products and services to the farming community in particular.
NABARD regional chief general manager, HR Dave, and GSCB chairman, Ajay Patel were present on the occasion. About 705 branches of these banks will be covered under the project in Gujarat in CBS - Phase I and TCS will be the application service provider (ASP).
The project will be rolled out on the ASP model and will be facilitated by NABARD. Banks will be saving in terms of cost reduction on capital expenditure like hardware, software, data centre, licensing costs, maintenance costs for software at bank level as well as availability of technology for business expansion and diversification.
The project also covers the training of banks' staff for CBS operations. NABARD has set a target of completing the entire project by December 31, 2012.
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