852 cooperative bank branches to link with core banking soon

Account holders also to get ATM facility

Apex Bank and 852 branches of 38 district cooperative banks in the state will be linked with core banking soon. Its testing has been completed. After implementation of core banking, cooperative banks’ 42 lakh 60 thousand account holders will also get ATM facility. Cooperatives Minister Shri Gaurishankar Bisen has directed departmental officers to provide all core banking facilities to customers with quality.

Core banking in 852 branches of cooperative banks in the state.

42 lakh 60 thousand account holders to get ATM facility.

45 lakh farmers to get electronic credit cards.

Real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) will also become available to customers after introduction of core banking in cooperative banks. The biggest benefit of this facility will be that beneficiaries of government schemes will be able to receive subsidies directly in their bank accounts. Account holders of cooperative banks will be able to transfer funds to any bank branch in the country electronically. Most of accounts of MNREGA beneficiaries are in cooperative banks.

In the state, Kisan Credit Cards of 45 lakh farmers are also being changed into Electronic Kisan Credit Cards. Now, farmers can get fertilisers and other facilities through Electronic Kisan Credit Cards. Core banking work in cooperative banks has been done through NABARD. Core banking is being introduced in cooperative banks in 19 states. Madhya Pradesh is the first to complete this work in 2 phases.