Core banking for all DCCBs by March 2013

BANGALORE: The District Central Cooperative Banks (DCCBs) in the state will be Core Banking Solution compliant by March 2013, Chief General Manager of National Bank for Agriculture and Rural Development (NABARD) Karnataka, S N A Jinnah announced here on Tuesday. “The process of Core Banking Solutions has been facilitated by NABARD in 7 DCCBs with the apex bank expected to join soon. All the cooperative banks are expected to be CBS compliant by March 2013,” Jinnah said. The Karnataka Regional Office of NABARD announced 40 per cent growth in credit support in 2011-12, with a total disbursement of Rs 6,053 crore last year. The Chief General Manager also announced that under the tribal development fund, 17,000 tribal families have been assisted with financial support of Rs 59.70 crore. “Around 1,300 farmer clubs were formed during the year, which will serve as linkages between banks, technology institutions and markets,” he added.