Cooperative banks are continuously strengthening their financial services through the use of high information technology to stay buoyed up in the banking sector, reports ET.
It is generally agreed that cooperative banks have been improving over the last years.
As per the statistics given by RBI, the number of ailing urban cooperative banks (UCBs) fell to 1,551 in March 2018 from 1,926 in 2004. Their gross bad loans have also come down to less than 10% from about 25% in the same period.
Cooperative banks have realized if they did not technology they would perish.