National Bank for Agricultural and Rural Development (NABARD) has decided to work out a common technological arrangement that will cover nearly 150 state and central cooperative banks in various states including Maharashtra.
According to the NABARD sources, this will not only streamline the credit extension process but also greatly boost financial inclusion in the country.
Nearly 5 thousand branches of banks and their administrative offices will be able to share data and knowledge through the common network.
It is in this context that NABARD has signed an agreement with the IT major WIPRO. The NABARD officials say the agreement for the provision of the state of the art computer facilities will bring about a considerable improvement in the functioning of the cooperative banks.