The Rushikulya Gramya Bank (RGB), a regional rural bank (RRB) operating in south Orissa, has become the first RRB in the state to have placed all its branches on the Core Banking Solutions (CBS) platform. Presently, five RRBs including RGB are functioning in the state.
All the 81 branches of the RGB located in Ganjam (71) and Gajapati (10) districts migrated to CBS on Monday. The day coincided with the Foundation day of the Berhampur based bank, which completed 31 years of its service. The bank was established on February 14, 1981.
“Our bank is the first RRB in the state to have fully implemented CBS, much before the stipulated time set by the Reserve Bank of India (RBI)”, said RGB's chairman PVSTR Seshagiri Rao. The Central government had directed the RRBs across the country to implement CBS before the end of September 2011.
“With the technical support from our sponsor bank Andhra Bank, we have been able to migrate all our branches to CBS including the branches located in the remotest areas”, he said.
The CBS was first introduced at the bank's branch at Gate Bazar here on December 18 last year.
The bank will spend around Rs 2.50 crore annually for adopting the new technology.
The expenditure, however, would be compensated with increased volume of business, he said.
The facilities like Real Time Gross Settlement (RTGS) will be available in all RGB branches with the introduction of CBS, he added.
The bank has planned to issue debit cards to its customers and explore the possibilities to utilise the ATMs of its sponsoring bank- Andhra Bank.
