The collaborative sector has been devoid of numerous boons and is always under the scrutiny of Reserve Bank of India (RBI). The reasons for this inflexibility are their shy lending practices, rising NPA situations, political backing behind their operations and further. As technology has been evolving and contributing to the developments in banking, collaborative banks are also looking forward to embracing it. After a prolonged delay, in early 2014, the Urban Cooperative Banks (UCBs) were granted authorization from RBI to extend online banking to their guests but only with a‘ view only’ installation. So, many IT companies has developed advanced cooperative software to help in these cooperative banking sectors. Like wise, the State Cooperative Banks (StCBs) and District Central Cooperative banks (DCCBs) also requested authorization to serve people with online banking services. The concurrence to offer internet banking to guests was eventually granted to all collaborative banks by R...
This blog has been created for cooperative banking, sahakari software blog posting in India.