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Banking Related General Awareness-Core Banking Infrastructure for rural banks

National Bank for Agriculture & Rural Development, or Nabard, has decided to create a common core banking infrastructure for rural co-operative banks, which have been losing out heavily in competition to commercial banks in the absence of modern banking facilities in their bouquet.

The development bank, which regulates rural credit cooperative banks, is even contemplating floating a subsidiary or a separate division to carry this endeavour forward . This plan constitutes a part of Nabard's repositioning exercise, which has been on for quite some time.

"Our effort aims at creating a level-playing field for cooperative banks in terms of modern banking solution. Except for some stray attempts , most of these banks do not have a CBS platform," Nabard executive director Prakash Bakshi told ET.

source: http://articles.economictimes.indiatimes.com/2011-01-13/news/28428770_1_cbs-platform-cbs-implementation-cooperative-banks

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