The National Bank for Agriculture and Rural Development (NABARD) has tied up with cooperative banks of Punjab in a bid to provide core banking solutions (CBS) in the banks.

NABARD has signed a memorandum of understanding (MoU) with the State Cooperative Bank (SCB) at the state level and District Central Cooperative Banks (DCCBs) at the district level under the Short Term Cooperative Credit Structure (STCCS).

As part of the deal, NABARD would look after all aspects like application software, maintenance of data centre, disaster recovery centre, timely regulation of hardware as well as software and also maintainance of related network connection.

The MoU was signed by SC Kaushik, Chief General Manager of NABARD and GS Mangat, Managing Director, Punjab State Cooperative Bank and respective CEOs of District Central Cooperative Banks (DCCBs).