GUBCBF to launch 2nd edition of 'Flood I-T' project next year

After success of first edition of 'Flood I-T' project, Gujarat Urban Bank Co-operative Banks Federation (GUBCBF) plans to launch its second edition beginning early 2013. The federation is targeting sale 3,00,000 computers under this project in one year time.

“The ‘Flood I-T’ project was a success in 2009-10. Based on this we have decided to launch its second edition. We are working on it and most probably the project would be launched in January 2013”, said Jyotindra Mehta, chairman, Gujarat Urban Bank Co-operative Banks Federation.

“Last time co-operative banks had given loans for 100,000 computers and this time we are targeting loans for 300,000 computers under the project," he added.

 

According to Mehta, all the 297 co-operative banks of Gujarat will participate in this project and any students or educational institute can take benefit of the Flood I-T project. “Last time federation had tied up with three I-T companies, in second edition seven companies are going to join with us," Mehta said.

Under Flood I-T projects, applicant gets 25 percent direct discount on market price of a personal computer. The scheme also provides interest-free loan for purchase of computers.

According to a study by Indian Institute of Management, Ahmedabad (IIM-A) on Flood I-T project, 145 cooperative banks and 100 cooperative societies had participated in this project in 2009-10.

Due to this project, sales of the computer in Gujarat increased almost 30 percent and around 7,500 new members were added in cooperatives banks.

Flood I-T project had benefitted over 250,000 students including those from 200 educational institutes.