Uttarakhand Cooperative Bank employees Union has assailed the decision of the state government to change the existing software for core banking solutions in District Cooperative Banks of the state. The union has threatened protests in different parts of the state.
“The government is giving a contract to Telecommunications Consultants India Limited (TCL), which has no banking experience. At present, Finacle is overlooking the work of CBS in DCCBs” said a protestor.
Chamoli DCCB of the state has already signed an MoU with TCL in this regard. It is being said that the Finacle software is being used in most of the commercial banks of the country while cooperative banks are doing the opposite.
Meanwhile, the employees of Chamoli DCCB have warned the management, if the decision is not withdrawn they will go for agitation in the district.
One of the representatives of the employees’ union said, TCL is new in this field and Finacle has a long experience with the banking sector. The data safety and security in TCL are less effective. If everything is going smoothly then why is there a need to change the software, he asked?