Nabard facilitates core banking solutions for cooperatives

Chennai:
Twenty-three Central Cooperative Banks (CCBs) in Tamil Nadu are moving to Core Banking Solutions (CBS) platform with the facilitation of National Bank for Agriculture and Rural Development (NABARD).
The Central Cooperative Banks entered into an agreement with the Tata Consultancy Services (TCS), the application service provider on Thursday at Chennai in the presence of Venkatesh Tagat, chief general manager, Nabard, Lalitha Venkatesan, Chief General Manager, Nabard, Tamil Nadu Region, and Sivan Arul, Special Officer, Tamil Nadu State Cooperative Apex Bank.
The signing of agreement will pave way for cooperatives to offer services, products on par with the Commerical Banks and face the emerging competition effectively. NABARD in coordination with TCS will impart training to the personnel of CCBs in the State. The project will be completed by December 2012.