With the implementation of Core Banking Solution (CBS), rural branches of Tiruchi District Central Cooperative Bank (TDCCB) have begun marching towards joining the new generation banks that offer cutting edge services on e-governance, according to report by the Hindu.
Besides its main branch in Tiruchi, the TDCCB has effectively brought all 52 branches in Tiruchi, Karur, Ariyalur and Perambalur districts under the CBS based on software developed by the State apex cooperative bank in Chennai and the National Bank for Agriculture and Rural Development (NABARD) with a leading Information Technology company.
Since most of the cooperative banks in rural areas offer services mainly to farmers, the software has been designed in such a way to assist banks disbursing funds from various government schemes including the Mahatma Gandhi National Rural Employment Guarantee Scheme, old age pension and others through the accounts.
Sources said the CBS had facilitated the customers to transfer funds through National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) and Direct Benefit Transfers (DBT).