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Rs 119.4 crore project to computerize 1,851 co-op agri & and rural development banks

To enhance the operational efficiency of the cooperative agriculture and rural development banks, the Union government has sanctioned a comprehensive computerization project for these financial institutions. The project, with a budget of Rs 119.40 crore, will modernize 1,851 units across states and union territories, including branches and supervisory units.

NABARD has been appointed as the implementing agency and will develop a standardized national level software. The initiative encompasses hardware provision, digitization of legacy data, and extensive employee training. This transformation aims to standardize accounting practices, streamline lending and resource raising processes, and facilitate business growth.

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