Kochi: Wipro Infotech, the India and Middle East, IT Business unit of Wipro Ltd. and a leading provider of IT and business transformation services, today announced the successful implementation of core banking solution (CBS) for five Co-operative Banks under National Agriculture Bank for Rural Development (NABARD). The application is hosted from Wipro’s Data Centre and would be supported for five years from the date of Go Live.
As a part of the contract, Wipro is currently implementing the project for Co-operative Banks across the states of Bihar, Uttar Pradesh, Maharashtra, Punjab, and Haryana. Phase I of the project will cover State Co-operative Banks (SCB) and District Co-operative Banks (DCB) of ten States. Wipro will computerize 76 banks with approximately 2790 branches.
Bringing CBS in co-operatives will be very beneficial to people in rural areas because co-operatives have a presence in remote places where other banks are often absent. The farmer will be able to receive e-payments towards subsidy, etc. under various Government schemes in his account directly. Remittance of funds from the cities to the villages and vice versa will be done easily in a bank branch in the village. This is expected to result in far reaching benefits for the agriculture sector and rural development. The banks will now be able to provide latest e-banking facilities like ATM facility, utility bill payment, mobile banking, e payments etc. to the customer in the remotest of places.
Anand Sankaran, Sr. VP & Business Head, Wipro Infotech, & Global Business Head – Infrastructure Services, Wipro said, “We are pleased to have successfully crossed the first milestone of this institutional development initiative undertaken by NABARD to strengthen the rural credit delivery system. Considering that the recent regulatory reforms by RBI are expected to make the Indian banking scenario more competitive, this initiative will equip co-operative banks with cost effective technology and robust infrastructure to support their growth and help them keep pace. More importantly it will change the face of rural banking by making e-banking facilities available to the rural customer.”
Wipro Infotech, a division of the US $7 billion Wipro Limited, provides enterprise customers with high value IT Products, Software Services, Solutions and Consulting Services in India and the Middle East. Headquartered at Bangalore, Wipro Infotech serves customers in India through a network of 22 offices and 170 service locations across the country including Kochi.
Kerala IT News