Village-level cooperative banks are yet to be brought under the core banking solutions platform
New Indian ExpressCHENNAI: Cooperative banks are not only less efficient, but also more affected by corruption because of the delay in modernising their operations. The cooperative banking sector has a three-tier structure comprising a state-level apex bank, district-level central banks, and village-level primary agricultural credit societies. The Tamil Nadu State Apex Cooperative Bank - a custodian of the cooperative banking structure in the state - and 23 District Central Cooperative Banks have been brought under core banking solutions platforms. Under a Core Banking Solution platform, cooperative banks will have unified integrated software with basic facilities such as any-branch banking, online banking, and access to ATMs on a par with commercial banks, said officials. "A total of 128 Urban Cooperative Banks are fully computerised and nearing completion of CBS," said an official document released by the department of cooperation recently.
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