Kangra Cooperative Bank launches north India’s first core banking system

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One of leading cooperative bank of the state, Kangra Cooperative Bank has launched core banking services, which will enable customers with the core banking and RTGS facility for fund transfer. Kangra Cooperative Bank, which has about 13.5 lakh customers’ base, is also mulling to introduce net banking in near time.

The technical base for the core banking system in Kangra Cooperative Bank had been established with the help of Tata Consultancy Services (TCS) and now the ATM card holders of the bank would be able to withdraw cash from any ATM bank machine in the country in the next seven days.

Kangra Cooperative Bank has become the third cooperative bank in the country and first of North India to have the core banking and RTGS fund transfer facilities. The other two cooperative banks that have their own core banking include Maharashtra State Cooperative Bank and Mumbai Cooperative Bank.

Many customers had shifted to other banks due to lack of RTGS facility in the cooperative bank, but now bank officials are hoping to woo customers back. To enhance its forte, Kangra bank has also signed an agreement with the LIC for selling its insurance products.