As per a recent press report, the agricultural cooperative credit societies in Tamil Nadu will be offering a range of online services as a result of tie up with TCS to provide e-accounts to the primary agricultural cooperative credit societies which allows members to transfer and receive funds from other banks within the country.
Further the report also said that the pilot study for the online facility is expected to start in this September and the entire process will start by the December. And the facility can be an alternative to the money order route and will help the cooperative credit societies improve their revenues while helping rural communities in remote villages.
As per the report, the apex bank is also migrating to core banking environment to provide modern banking facility including ATMs and anywhere banking. It was fully implemented core banking and has six ATMs in Chennai. Further the bank is in the process of becoming a member of the national financial switch which will enable its customer to any ATMs to access its services.
The report also said that the real time gross settlement and national electronic funds transfer system to support the transfer of funds electronically within the country.