The technological up-gradation will allow customers to avail themselves of a variety of facilities including branch banking and e-transfer of money.
According to Nabard chief general manager Subrata gupta, the banks had to work with less sophisticated system using umpteen technological platforms. The Net APP ‘s solution would free the banks from cumbersome technological processes and offer encouragement to financial inclusion, said Gupta.
Sources say the new system would be cost effective and efficient. The new technology will also make it possible for the government to transfer subsidy and other payments to account holders through their Aadhaar numbers.
There are 201 banks with 6,818 branches under the Nabard Project, 199 of them with 6,795 branches are fully on core banking solution. IT services giants TCS and Wipro are doing this mega project across the country.