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Core Banking Solution (CBS) to Co-operative Banks

Core Banking Solution (CBS) to Co-operative Banks

Core Banking Solution (CBS) to Co-operative Banks

In one of the biggest initiatives towards institution building, NABARD has facilitated the process of bringing the Co-operative Sector onto Core Banking Solution (CBS) platform. A total of 201 State and Central Co-operative Banks with 6,953 branches from 16 states & 03 UTs of the country, viz. Punjab, Haryana, Gujarat, Maharashtra, UP, Chhattisgarh, MP, Bihar, Karnataka, Tamil Nadu, Kerala, Uttarakhand, Sikkim, Himachal Pradesh, Jammu & Kashmir, Arunachal Pradesh, Chandigarh, Puducherry and Andaman & Nicobar joined the “NABARD initiated Project for CBS in Co-operatives”. Two vendors, viz. TCS and Wipro, have implemented the ambitious project across the country. All 201 banks with 6,953 branches under NABARD Project are fully on CBS. This includes 122 new branches which were directly opened on CBS platform. Implementation of HO retail module of Kolar DCCB of Karnataka state is underway.

Apart from the cooperative banks, Tamil Nadu Industrial Cooperative Bank (TAICO) has been taken onboard for roll-out of CBS under the project. 

The model followed in the initiative is Application Service Provider (ASP) model using the concept of cloud computing. The roll out process is in the final stage and branches are being migrated on CBS platform on a regular basis.

Now these century old banks have started functioning in the CBS environment at par with the technological platform of the Commercial Banks and Regional Rural Banks and match up with these institutions in providing similar kind of services in the hinterland of the country. These banks now extend commensurate services to its existing and new clients keeping in sight the changing scenario and expectation level of the clientele. In time, their clients would be in a position to receive various Government incentives/ subsidies and also other financial inputs directly in their accounts maintained with the co-operative banks.

Keywords:- Core Banking Solution, Co-operative Banks, CCB, StCB, CBS, Computer Lab, ASP, Cloud Computing

Bringing the Co-operative Banks under Core banking Solution would provide the following advantages

·   Bring them at par with the technological platform of the Commercial Banks and also RRB and match up with these institutions in providing similar kind of services in the hinterland of the country.

·   Transparency and regular reconciliation and balancing of books of account to arrest pilferage.

·   Once the Banks are on a technology platform they will be in a position to utilise technological solution furthering the financial inclusion initiative in rural India

·   The customer of the Banks can avail facilities like Any Branch Banking, e-transfer of funds to anywhere of the country, etc.

·   This will also enable GOI to transfer incentive/subsidy/other payments to the account holders based on Aadhaar number.

·   Technological solution is expected to release staff members so that there will be more follow-up with the customers and also help bring in new customers/ clients to the Banks thus improving the business portfolio.

I.  States covered under NABARD-initiated CBS Project for Cooperative Banks

Sr.

Name of the state/UT

Total No. of Banks

Total No. of Branches

i

Bihar

23

310

ii

Haryana

20

653

iii

Maharashtra

8

857

iv

Punjab

21

843

v

Chandigarh

01

16

vi

Uttar Pradesh

07

149

vii

Chhattisgarh

06

187

viii

Gujarat

17

1181

ix

Karnataka

10

227

x

Madhya Pradesh

39

895

xi

Tamil Nadu

23

783

xii

Andaman & Nicobar

1

30

xiii

Himachal Pradesh

1

29

xiv

Jammu & Kashmir

1

26

xv

Kerala

9

438

xvi

Sikkim

1

15

xvii

Uttarakhand

11

253

xviii

Arunachal Pradesh

1

33

xix

Puducherry

1

28

 

Total

201

6,953

(i) List of Participating Banks for CBS in Bihar

Sr.

Name of the bank

Total no. of branches

1

AURANGABAD

12

2

BEGUSARAI

10

3

BETIAH

9

4

BHAGALPUR

17

5

BHOJPUR

24

6

BIHARSHARIF

13

7

BStCB

12

8

GOPALGANJ

17

9

KATIHAR

10

10

KHAGARIYA

8

11

MADHUBANI

15

12

MAGADH

10

13

MOTIHARI

10

14

MUNGER

19

15

MUZAFFARPUR

10

16

PURNEA

20

17

SAMASTIPUR

8

18

SASARAM

18

19

SITAMARHI

14

20

SIWAN

13

21

VAISHALI

6

22

NAWADA

14

23

PATALIPUTRA

21

 

G Total

310

 

I. (ii) List of Participating Banks for CBS in Haryana

Sr.

Name of the bank

Total no. of branches

1

AMBALA

30

2

BHIWANI

44

3

FARIDABAD

36

4

FATEHABAD

31

5

GURGAON

39

6

HISAR

47

7

HARYANA StCB

16

8

JHAJJAR

28

9

JIND

34

10

KAITHAL

32

11

KARNAL

47

12

KURUKSHETRA

34

13

MAHENDRAGARH

24

14

PANCHKULA

13

15

PANIPAT

23

16

REWARI

30

17

ROHTAK

29

18

SIRSA

42

19

SONEPAT

39

20

YAMUNA NAGAR

35

 

G. Total

653

I. (iii) List of Partipating Banks for CBS in Maharashtra

Sr.

Name of the bank

Total no. of branches

1

KOLHAPUR

192

2

LATUR

113

3

AURANGABAD

144

4

BEED

63

5

RATNAGIRI

78

6

YAVATMAL

83

7

PARBHANI

104

8

NANDED

80

 

G Total

857


 
 
 
 
 
 
 

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