RGB launches CBS operation

The Rushikulya Gramya Bank (RGB), one of the five Regional Rural Banks (RRB) in Orissa, has initiated the process of adopting Core Banking Solution (CBS) in all its branches.

The bank today introduced CBS in one of its branches at Berhampur and has set a target to bring its other 80 branches and proposed new branches to the CBS fold by the end of March next year. The Central government has fixed the deadline for all RRBs across the state to be CBS compliant before September next year.  

The RGB is operating in two south Orissa districts, Ganjam and Gajapati, with a network of 71 and 10 branches respectively. The bank proposed to open three more new branches before the end of this financial year at Randha, Ganjam town and Nilakanthanagar in Berhampur.

Launching the CBS operation, the bank’s chairman PVSTR Seshagiri Rao said, Andhra Bank has provided all technical support in this regard. Hyderabad based Andhra bank is the sponsoring bank of RGB.

With the introduction of CBS, the customers of this rural bank can transact their business from any where and at any branch of the bank like its counterpart commercial banks.

The business volume of the bank is expected to grow with introduction of this modern technology, he hoped.

The bank has achieved business of around Rs 1260-crore (Rs 898-crore deposits and Rs 362-crore advances) so far as against target of Rs 1520-crore (Rs 950-crore deposits and Rs 570-crore advances) by the end of March, 2011.  Hota said that Wipro had recruited 51 students from ITER so far while Ashok Leyland had offered the highest pay package of Rs 7.5 lakh per annum to four B Tech students from the mechanical engineering stream.

ITER had achieved 95 per cent placement for students who passed out in 2010.

Whereas, the recruitment by companies for 2011 pass out students in the campus recruitment had reached 72% till now, Hota said.