RRBs follow RBI instructions, prepare guidelines for core banking

The Regional Rural Banks (RRBs) across the country has been directed by the Reserve Bank of India (RBI) to make their branches fully Core Banking Solutions (CBS) complaint by September 2011.

Following the instructions the RRBs in Orissa, have prepared the guidelines for the implementation of 100 per cent CBS before the set time period fixed by RBI. The guidelines have been prepared in association with nationalized banks who are sponsoring the RRBs.

In Orissa there are five RRBs, all of them have speed up work on their IT-systems for the implementation of CBS in line with the RBI guidelines. The nationalized banks that are offering support to these RRBs have extended their help and are taking active interest in guiding them on IT upgradation.

C Doraswamy, chairman, Rushikulya Gramya Bank (RGB) informed the decision on the cost-sharing of the project between the RRBs and the nationalized banks is to be taken though some of the nationalized banks are ready to bear the entire cost of the project. “Andhra Bank has appointed a nodal officer to oversee the implementation of 100 per cent CBS in Rushikulya Gramya Bank operating in Ganjam and Gajapati districts”, he explained. He told Andhra Bank on a pilot basis, is planning to bring one RGB branch to CBS platform before the end of the current financial year and the remaining branches CBS will be implemented in first three to four months of the next fiscal.

At present RGB is having 80 branches and plans to add 5 more branches during the current fiscal.

UGB, sponsored by SBI, is having 333 branches therefore there are no plans to open any new branch during the current year, Das informed.