CBS of urban cooperative banks to begin this month
By IANSTuesday, December 7, 2010
AHMEDABAD - Union Agriculture minister Sharad Pawar will flag off the national launch of the Core Banking Solutions (CBS) drive of Of urban cooperative banks at their two-day national meet “Coop Core 2010″ beginning here on December 25.
The drive aims to link more than 7,000 branches of 1,674 urban cooperatives banks (UCBs) and by 2011, about 300 UCBs across India, including 50 percent of the 112 UCBs in Gujarat, are expected to have access to the CBS network.
At present, only about 80-90 of the bigger UCBs have this facility, said H.K. Patil, president of the National Federation of UCBs and Credit Societies Ltd (NUCBCS) at a press conference here Tuesday, adding that the interlinking is expected to double their deposits by Rs.3.06 lakh crore.
