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Gujarat co-op banks to launch net banking

More than 260 co-operative banks, with a network of over 2,000 branches across Gujarat, will come under this umbrella

Vimukt Dave  |  Ahmedabad 

Gujarat co-op banks to launch net banking

After a successful rollout of core banking facilities, cooperative in are now planning to launch and for the first time in India.

With support of the Urban Federation (GUCBF), State Cooperative Bank - a scheduled bank of - has created an umbrella platform under which all the cooperative of the state will be able to provide facilities to their customers.



Since maintaining server and technology is not affordable for small co-operative banks, the federation is now in the process of linking smaller with big According to the National Federation of Urban and Credit Societies (NAFCUB), only is currently active in technology adoption; the former has asked other states to do the same.

More than 260 co-operative banks, with a branch network of more than 2,000 branches across Gujarat, will come under this umbrella, which would enable them to provide technology-driven services to their account holders or customers.

The Reserve Bank of India (RBI) has asked all the states to set up umbrella platforms for technology support, but is the only state in India that has implemented the concept.

"The basic idea behind it is to support small in technology so that they become able to provide technology-driven services, such as and is the first state in which cooperative will be on and platforms in the county," said Jyotindra Mehta, director of and president of

According to Mehta, was the first state to implement core banking solution (CBS) in the country.

Mehta added, "The co-operative model is very strong in Gujarat, which is why the state is always performing better than other states of India."

It is not affordable for small to create and maintain and platforms, and so has asked every state to create this kind an umbrella to provide technological support to every bank for further developments.

Vinod Shah, general manager of State Co-operative Bank, said, "Individually, technology adoption costs around Rs 5 crore, which includes server, application software, manpower and infrastructure. This may not be affordable for every bank.

State Co-operative Bank has created infrastructure, while will help to link with it. Almost half of the state's have already been covered under the umbrella.

"Almost half of the cooperative have been covered in the technology umbrella project and the rest will be in it in near future. We are educating the by organising seminar about it," Shah added.

Most of the are prepared to start the facility, but it will take some time for since each bank needs to get permission from So far, has given permission to four co-operative banks, of which two - State Co-operative Bank and Ahmedabad District Cooperative Bank - have received approval. The rest of the are from Tamil Nadu and Himachal Pradesh.

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Gujarat co-op banks to launch net banking

More than 260 co-operative banks, with a network of over 2,000 branches across Gujarat, will come under this umbrella

More than 260 co-operative banks, with a network of over 2,000 branches across Gujarat, will come under this umbrella After a successful rollout of core banking facilities, cooperative in are now planning to launch and for the first time in India.

With support of the Urban Federation (GUCBF), State Cooperative Bank - a scheduled bank of - has created an umbrella platform under which all the cooperative of the state will be able to provide facilities to their customers.

Since maintaining server and technology is not affordable for small co-operative banks, the federation is now in the process of linking smaller with big According to the National Federation of Urban and Credit Societies (NAFCUB), only is currently active in technology adoption; the former has asked other states to do the same.

More than 260 co-operative banks, with a branch network of more than 2,000 branches across Gujarat, will come under this umbrella, which would enable them to provide technology-driven services to their account holders or customers.

The Reserve Bank of India (RBI) has asked all the states to set up umbrella platforms for technology support, but is the only state in India that has implemented the concept.

"The basic idea behind it is to support small in technology so that they become able to provide technology-driven services, such as and is the first state in which cooperative will be on and platforms in the county," said Jyotindra Mehta, director of and president of

According to Mehta, was the first state to implement core banking solution (CBS) in the country.

Mehta added, "The co-operative model is very strong in Gujarat, which is why the state is always performing better than other states of India."

It is not affordable for small to create and maintain and platforms, and so has asked every state to create this kind an umbrella to provide technological support to every bank for further developments.

Vinod Shah, general manager of State Co-operative Bank, said, "Individually, technology adoption costs around Rs 5 crore, which includes server, application software, manpower and infrastructure. This may not be affordable for every bank.

State Co-operative Bank has created infrastructure, while will help to link with it. Almost half of the state's have already been covered under the umbrella.

"Almost half of the cooperative have been covered in the technology umbrella project and the rest will be in it in near future. We are educating the by organising seminar about it," Shah added.

Most of the are prepared to start the facility, but it will take some time for since each bank needs to get permission from So far, has given permission to four co-operative banks, of which two - State Co-operative Bank and Ahmedabad District Cooperative Bank - have received approval. The rest of the are from Tamil Nadu and Himachal Pradesh.
image
Business Standard
177 22

Gujarat co-op banks to launch net banking

More than 260 co-operative banks, with a network of over 2,000 branches across Gujarat, will come under this umbrella

After a successful rollout of core banking facilities, cooperative in are now planning to launch and for the first time in India.

With support of the Urban Federation (GUCBF), State Cooperative Bank - a scheduled bank of - has created an umbrella platform under which all the cooperative of the state will be able to provide facilities to their customers.

Since maintaining server and technology is not affordable for small co-operative banks, the federation is now in the process of linking smaller with big According to the National Federation of Urban and Credit Societies (NAFCUB), only is currently active in technology adoption; the former has asked other states to do the same.

More than 260 co-operative banks, with a branch network of more than 2,000 branches across Gujarat, will come under this umbrella, which would enable them to provide technology-driven services to their account holders or customers.

The Reserve Bank of India (RBI) has asked all the states to set up umbrella platforms for technology support, but is the only state in India that has implemented the concept.

"The basic idea behind it is to support small in technology so that they become able to provide technology-driven services, such as and is the first state in which cooperative will be on and platforms in the county," said Jyotindra Mehta, director of and president of

According to Mehta, was the first state to implement core banking solution (CBS) in the country.

Mehta added, "The co-operative model is very strong in Gujarat, which is why the state is always performing better than other states of India."

It is not affordable for small to create and maintain and platforms, and so has asked every state to create this kind an umbrella to provide technological support to every bank for further developments.

Vinod Shah, general manager of State Co-operative Bank, said, "Individually, technology adoption costs around Rs 5 crore, which includes server, application software, manpower and infrastructure. This may not be affordable for every bank.

State Co-operative Bank has created infrastructure, while will help to link with it. Almost half of the state's have already been covered under the umbrella.

"Almost half of the cooperative have been covered in the technology umbrella project and the rest will be in it in near future. We are educating the by organising seminar about it," Shah added.

Most of the are prepared to start the facility, but it will take some time for since each bank needs to get permission from So far, has given permission to four co-operative banks, of which two - State Co-operative Bank and Ahmedabad District Cooperative Bank - have received approval. The rest of the are from Tamil Nadu and Himachal Pradesh.

image
Business Standard
177 22