|
|
|
|
|
10th Jamadi-us-Sani 1436 | Monday, Mar 30, 2015
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

Madison, Wilkinson to star in 'Sharknado 3'

Former Playboy models Holly Madison and Kendra Wilkinson will add glamour to "Sharknado 3: Oh Hell N ...

Burdwan blast: NIA chargesheets Assam's Sahanur, Shaikul

The NIA, which is probing the Burdwan blast case, on Monday submitted a chargesheet in a court in Ko ...

Blanket ban on chewable tobacco in Delhi

A blanket ban on all forms of chewable tobacco came into effect in the national capital from Monday, ...

Related News

Singapore to finalise Andhra capital's master plan in 6-8 weeks

Singapore will finalise the master plan for the new capital city of Andhra Pradesh in six to eight w ...

Five new MLCs of AP take oath

Five newly elected MLCs of Andhra Pradesh Legislative Council took oath of office here on Monday. The MLCs - VV Chowdhary and Sandhya Ra ...

AP Govt to set up Energy Conservation Corp...

With a view to take up integrated approach in implementing energy conservation activities by involving all key departments having huge energ ...

Post new comment

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

Rs. 26260 (Per 10g)

Opinion Poll
Do you think the crisis in Aam Admi Party would affect Delhi's development as promised by Kejriwal?
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