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NABARD along with NetApp today said that it plans to bring all cooperative banks of India on to the Core Banking Solution (CBS) platform. With this move, the country's rural sector will get access to basic banking facilities such Any Branch Banking, NEFT, RTGS and access to ATMs.
A total of 201 state and district level Central Cooperative Banks with 6,914 branches from 16 states and three union territories of the country have joined the 'NABARD initiated project on CBS in Co-operatives.' Currently, 200 banks and 6,913 branches are on the CBS platform.
The co-operative consists of a three - tier structure with the Primary Agricultural Credit Societies (PACS) in the villages, the Central Co-operative Banks at the district level (DCCBs) and the State Cooperative Banks at the state level (StCBs). The PACS cover most of the 6.50 lakh villages, which are not covered by...