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Shift to core banking system: CM

  • Shift to core banking system: CM

    Summary: By shifting into core banking, the cooperative banking sector will become more energetic and gain more acceptance among people, he said. He urged the cooperative banks in the State to shift to core banking system at the earliest and do the needful to train the employees who were less proficient in the use of computers. A scene from the cultural procession taken out as part of the State-level Cooperative Week celebration in Kozhikode on Tuesday. The banking sector was the most affected by digitalisation, making it more accurate, efficient and fast. We have to head towards 100% core banking now,” he said and added that the government was taking steps to implement a unified software in primary cooperative societies.

    A scene from the cultural procession taken out as part of the State-level Cooperative Week celebration in Kozhikode on Tuesday. | Photo Credit: S_RAMESHKURUP “Change with the times or fall behind” was Chief Minister Pinarayi Vijayan’s message to the cooperative sector in the State on the occasion of the 64th Cooperative Week celebrations. Opening the celebrations in Kozhikode on Tuesday, he pointed out that the cooperative sector will not be able to sustain unless it embraced digital economy. He urged the cooperative banks in the State to shift to core banking system at the earliest and do the needful to train the employees who were less proficient in the use of computers. ‘Empowerment through digitalisation of cooperative societies’ is the theme of the Cooperative Week celebrations this year , As Reported By Hindu.

    According to the Newspaper,The banking sector was the most affected by digitalisation, making it more accurate, efficient and fast. By shifting into core banking, the cooperative banking sector will become more energetic and gain more acceptance among people, he said. The Chief Minister highlighted the advantage of the proposed Kerala Banking, which would serve as an umbrella body for all cooperative banks in the state. However, he also warned against the difficulties that may arise with complete digitalisation.

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