The RBI Governor, Dr. D Subbarao launched two of NABARD’s initiatives
in rural banking, as a part of the celebrations on the 30th Foundation Day of
NABARD. The first initiative was the launch of core banking solution (CBS) for
cooperative banks facilitated by NABARD, and the second was the launch of
Aadhar enabled Kisan Credit Cards to farmers from RRBs.
Introducing the initiatives, Chairman, Dr Prakash Bakshi stated that NABARD
has moved from being just a refinancing institution to an institution which ‘thinks’
about development; researches, designs and creates new products and
programs; grooms varied partners; and through all this, influences the thought
process and actions of all those engaged in rural development. He stated
that activities of NABARD today range from formation of financial capital to
building social capital, from infrastructure finance to micro-finance and many
development initiatives focussed on inclusive growth.
A total of 163 State and Central Co-operative Banks have joined the initiative
of core banking solution for cooperative banks. These are from 10 states of the
country namely Punjab, Haryana, Gujarat, Maharashtra, UP, Chattisgarh, MP,
Bihar, TN and Karnataka Once completed, expectedly by 31 December 2012
5543 branches of these Banks will be on CBS platform. Two vendors TCS and
Wipro are implementing the ambitious project across the country. 25 Branches
from Chattisgarh, Bihar, Haryana, Maharashtra and Karnataka have gone live
on the occasion of 30th Foundation day of NABARD.
Thiruvananthapuram, Kollam, Kottayam, Idukki, Kasargod, Kozhikode and
have joined the NABARD CBS Project Phase II. The Service
(Kerala RO also covers Lakshadweep)
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Provider for CBS solutions would be Wipro Ltd. The Project is being launched
on 1 August 2012 and is expected to be completed in 344 branches of these
banks by 31 March 2013.
Under the Aadhar enabled Kisan Credit Card initative, the farmers will be able to
obtain KCC with ease and access their accounts with added security features.
Governor, RBI inaugurated this initiative by issuing the Aadhar enabled KCC to
nine farmers from Wainganga Krishna Gramin Bank, Jharkhand Gramin Bank
and Narmada Malwa Gramin Bank. All these RRBs are sponsored by Bank of
A coffee table book delineating the 30 years of NABARD was released by
Governor, RBI, on the occasion.
Photo : Dr. Prakash Bakshi, Chairman , NABARD and Dr. D. Subbarao, Governor, RBI
releasing the Coffee Table Book