|
|
|
|
|
2nd Safarul Muzaffer 1436 | Wednesday, Nov 26, 2014
Andhra Pradesh

Andhra cooperative banks join together to save on automation

Tuesday, 6 July 2010
Comments(0)
July 06:

Chennai, July 06: Twenty three cooperative banks in Andhra Pradesh have hit upon a novel idea of using single core banking solution (CBS) and save on hardware and software costs.

"Individually they are 23 entities. But they decided to use single CBS installed at Andhra Pradesh State Cooperative Bank Ltd (APSCOB) in Hyderabad on a multi-entity CBS model thereby saving each individual bank from investing in hardware and software," Founder and Managing Director of Laser Soft Infosystems B. Suresh Kamath told IANS.

Laser Soft, which bagged the Rs.8.2 crore order (software and maintenance contract), is a subsidiary of another banking software major Polaris Software.

"This is the first time in India cooperative banks are adopting such a practice. In many states each individual cooperative bank would buy the CBS and the needed hardware. Under this model each bank would have saved around Rs.4 crore," Kamath added.

In Andhra Pradesh, APSCOB is a Scheduled State Cooperative Bank. It has 22 affiliated District Cooperative Central Banks (DCCBs), which in turn, have 569 branches and 2746 Primary Agricultural Cooperative Societies (PACS) through which developmental agricultural credit is provided.

--Agencies

Latest News

A new research has revealed that 60 percent of moms feel pressure to appear well off on social media ...

Opposition uniting to form 'unstable, corrupt govt.' in Jharkh...

Bharatiya Janata Party (BJP) president Amit Shah on Wednesday lashed out at the opposition parties i ...

Man freed of charge of threatening to kill Sheila Dikshit

A man, accused of making hoax calls in 2012 about killing the then Chief Minister Sheila Dikshit, ha ...

Related News

Nine-member central team arrives to assess...

An eight-member central team deputed by the central government to assess the damage caused by Cyclone Hudhud arrived here today evening and ...

Muslim farmers worried about their lands t...

After the bifurcation of the State, A.P. Govt. is taking lands in the vicinity of Vijaywada for the construction of its new Capital. The Mus ...

AP CM exhorts Japan to invest in state

AP Chief Minister N. Chandrababu Naid, who is on Japan visit, today held three meetings to attract investments to the St ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26230 (Per 10g)

Opinion Poll
Do you think introduction of grills to separate ladies and gents in RTC buses add to travel woes?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com