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Uttarakhand banks to be connected by CBS link by March 2013

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Core Banking Solutions (CBS) is to connect all cooperative banks in Uttarakhand by March 2013.
The initiative is believed to follow the direction from the NABARD. The 10 banks which will be connected with the CBS fall under the profit making category. Out of the total 13 districts in Uttarakhand, the districts of Rudraprayag, Champawat and Bageshwar, do not have the district cooperative banks.
Also, the mini cooperative banks having an annual business of Rs 3-4 crore would be linked with the CBS system by March 2013. In total, there are 56 such mini-banks working under cooperative societies in the state. Efforts are also being made to set up district cooperative banks in the remaining three districts also.

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