NetApp, a data storage solutions firm, has teamed up with NABARD for data and disaster recovery centres to help cooperative banks move on to core banking solution (CBS) platform.
With CBS, now the banks will have the technological leverage to help increase financial inclusion in rural India. Customers of these banks can avail facilities like any branch banking and e-transfer of funds.
Banks were operating either in a manual environment or partially computerised standalone environment, leading to use of multiple technology platforms.
NABARD Chief General Manager Subrata Gupta said, “Through CBS, we have been able to reach out to India’s rural sector and through the deployment of NetApp’s solution in the project, being implemented by leading IT vendors, we have taken a step closer in achieving our goal of financial inclusion in India.”
The move will also enable the government to transfer subsidy and other payments to account holders based on their Aadhaar numbers. Of the 201 banks with 6,818 branches under the Nabard Project, 199 banks and 6,795 branches are fully on CBS as on March 31, 2014.
“For data and disaster recovery centres, Nabard partners with technology providers including NetApp by deploying NetApp’s FAS storage systems as a private cloud,” NetApp President (India and SAARC) Anil Valluri said.
FAS storage systems simplifies data management across the CBS platform, from the local office to the data centre to the cloud.
“We believe that technology has the ability to drive economic growth in the Indian rural sector. We are delighted that NetApp has been able to bring banking closer to many Indians,” Valluri added.