Reserve Bank of India

13.04.2016

Banking

RBI to assist cooperative banks in uptake of Core Banking

MANU/RMIC/0064/2016

To ensure implementation of Core Banking System in Urban Cooperative Banks, the Reserve Bank of India will dole out Rs. 4 lakh to each to cover initial set up costs. Recurring costs for each branch will then have to be borne by the bank. Technical support for setting up systems will also be provided through the Institute for Development and Research in Banking Technology.

Tags : Cooperative banks core banking

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