CBS system opens at state rural banks
Source: Hueiyen News Service
Imphal, February 14 2011:
Manipur Rural Bank has launched its Core Banking Solution (CBS), a system which an account holder of the bank can deposit or withdraw money from any of its branch.
The launching function was held at its branch office at RIMS Road today.
Speaking at the launching function, Umesh Prashad, chairman of the Manipur Rural Bank said that the bank is targeting to provide the same facilities in all its branches by September this year asserting that the bank has now 27 branches across the state.
Earlier, the CBS system has been opened at its two branches at Porompat and Imphal and Lamphel branch is the third one, he said adding that work for providing the same facility at its branches at Kongba, Lamlong, Sinjamei, Wangjing etc.
are under progress.
The initiative has been taken up as per directive of the Reserved Bank of India to open CBS system in all the regional banks across the country by September, 2011.Banks having no CBS facilities could operate after September deadline, the Umesh Prashad quoted the RBI directive.
ATM facilities will also be to all bank branches having CBS system, he added.
There is a standing order of the RBI that there should be a bank branch each to every village having a population of 2000 and above.
43 villages of the state have also been shortlisted for opening bank branches, he asserted.
The work for providing agricultural loans to the farmers under the Need Based Project has also been taken by the Manipur Rural Bank the chairman said adding that the bank has a provision to pay loans to the women vegetable vendors and small time businessmen.
The CBS launching function was attended by Namkelar, officer in-charge of the NARBARD Regional Office, Manipur, its AGA MS Sarangsam, Kh Damudor, manager Manipur Rural Bank, Lamphel Branch and T Rajendra, owner of the branch office building.