Cooperative bank inks pact for seamless transactions

Tribune News Service

Chandigarh, August 2
In a significant move to enhance the efficiency of the cooperative sector in the state, the Punjab State Cooperative Bank and 20 district central cooperative banks on Friday inked a CBS Upgradation Agreement with M/s Edgerve Systems Limited and M/s Dynacons Systems and Solutions Limited in the presence of Special Chief Secretary to the CM and Financial Commissioner Cooperation VK Singh.
The Special Chief Secretary said the pact was a step forward towards ensuring transparency and accountability in the cooperative sector. It would also help prevent fraud and misappropriation of funds.
VK Singh said the use of Finacle 10 of Infosys for Core Banking Solution would increase the integration of all stakeholders, enabling seamless transactions and enhancing the overall efficiency of the cooperative sector. He said that this initiative marked a significant step towards empowering the cooperative sector in the state.