New Document top_band
 
Business Standard

Gujarat co-operative banks to link up with private, PSU bank ATMs

Related News

Now it's any time money for the about 80 lakh account holders of co-operative banks in Gujarat. In a bid to widen its reach for its customers, the Gujarat Urban Co-operative Banks Federation (GUCBF) is attempting to link up the state's 300-odd urban and 18 district cooperative banks with the ATM network of private and nationalised banks.

"It is the first of its kind of project in India. We are trying to link up our ATM network with that of private as well as nationalised banks. This link up will help about 80 lakh account holders of cooperative banks to access anywhere in India. For this, we are talking with core banking provider to set up centralized data system," said Jyotindra Mehta, president, and director of the Rajkot Nagrik Sahkari Bank.

According to Mehta, for safety purposes, there will be two centralised data systems. While the first one is likely to come up at Ahmedabad, the second one, which will serve as a backup system, will come up in some other state.

"Customers will get the power of withdrawing money anytime at any place while the banks will get a technical edge, for which cooperative bank are not that well-known," Mehta added.

Being aggressive about core banking, GUCBF earlier ran a project to interlink the all cooperative banks and technology upgradation. The project — the brainchild of the Gujarat Urban Co-operative Banks Federation (GUCBF) — is in its final stage and is expected to take off within a couple of months with the support of the state co-operative banks. Computers have been acquired by most of the banks and the staff training is over too. GUCBF is now in the process to invite tenders for application of the service providers.

Read more on:   
|
|
|

Read More

Going out of Citi Suvidha? Keep higher balance

Citi India’s ‘Suvidha’ salary account holders will need to maintain a monthly net relationship value of Rs 1 lakh if their salary is no longer ...

Quick Links

News Rss icon

LIC Housing Finance takes over Orbit Corp's Mumbai property

Orbit's total amount outstanding is Rs 95.50 crore including interest, expenses and other charges

VCES a rare opportunity, make fresh start, says Chidambaram

The FM asked hose in trade and industry to seize the offer

Govt allows greater flexibility for pension fund investments

But the EPFO board would need to approve the changes before they become official

Back to Top