https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

NABARD to Digitize All Cooperative Banks by March 2025

NABARD Chairman Shaji K V announced that all cooperative banks will be fully digitized with Core Banking Solutions by March 2025, enhancing efficiency and inviting fintech collaborations for innovative solutions.
Banking Laws Amendment Act 2025
Indian Masterminds Stories

National Bank for Agriculture and Rural Development (NABARD) Chairman Shaji K V announced that all cooperative banks are expected to be fully digitized by March 2025. This move aims to streamline operations and enhance efficiency in these vital financial institutions. Speaking at a CII event, he highlighted that the Reserve Bank of India (RBI) has mandated cooperative banks to adopt the Core Banking Solution (CBS), marking a significant step towards modernization.

The digitization process, undertaken in collaboration with the central government, will invite fintech companies to develop technology solutions for these banks’ digitized databases and transaction platforms. “We will have a fully digital system by 2025, and fintech partnerships will help leverage the database for enhanced operational efficiency,” Shaji said.

He also mentioned plans to establish a common shared services entity for rural cooperatives nationwide. The government and RBI have given in-principle approval to set up a dedicated company to drive digital adoption in collaboration with NABARD and cooperative banks.

In addition, the Finance Ministry’s roadmap includes the merger of 15 Regional Rural Banks (RRBs) in states like Andhra Pradesh, Uttar Pradesh, and West Bengal to achieve cost rationalization and operational efficiency, further boosting rural banking reforms.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
RBI
RBI Proposes Mandatory Unique Transaction Identifier for OTC Derivative Trades from April 2026
INS Trikand
Indian Navy’s INS Trikand Executes Heroic Firefighting and Rescue Operation on MT Falcon in Gulf of Aden
gghghghg
Defence Acquisition Council Approves Rs 79,000 Crore for Advanced Military Systems to Boost India’s Defence Capabilities
Bank_of_Baroda_signed_agreement_
Bank of Baroda Enhances Maharashtra Vital Statistics Operations with Advanced Agency Banking Integration
_BPCL_IandC_team_
BPCL Launches ‘Suraksha Bandhan’ Safety Initiative, Reaching Over 12,000 People Across India
Bank of Baroda
Financial Results: Bank of Baroda Board to Approve Q2 and Half-Year Unaudited Financial Results on October 31, 2025
Sandeep Lathar
Political Pressure Behind ASI’s Suicide? Wife Accuses IPS Officer’s Family, MLAs in FIR, Seeks CBI Inquiry
Special Campaign 5.0
Swachhata Takes Centre Stage: Government Launches ‘Special Campaign 5.0’ across Key Ministries to Clear Backlogs & Boost Office Hygiene
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
UPSC Journey Should Be Enjoyable, Not Cumbersome
WhatsApp Image 2025-10-16 at 15.16
The Many Facets of Former IRS Officer and Author, Giselle Mehta | Video Interview
IDES Saquib Alam
Beyond IAS and IPS: The Inspiring Work of an IDES officer | Video Interview 
ADVERTISEMENT
UPSC Stories
IAS Rupal Rana UPSC
How Rupal Rana Cracked UPSC CSE 2023 with AIR 26 After Four Attempts
UPSC Topper Rupal Rana secured AIR 26 in 2023 after four attempts. Learn her preparation strategy, booklist,...
Ankita Parashar RAS 2023
4 Attempts, 1 Dream, 0 Excuses: Meet RAS Topper Ankita Parashar, Who Fulfilled a Daughter’s Promise & Secured Rank 2 | Exclusive Interview
Ankita Parashar, a teacher-turned-officer from Pushkar, fulfilled her late father’s dream by securing...
Kushal Chaudhary RAS
From Lab Assistant’s Grit to Rajasthan Topper: How Kushal Chaudhary Topped RAS 2023 with Self-Study | Preparation, Strategy & Interview
Kushal Chaudhary, a farmer’s son and lab assistant from Ajmer, topped RAS 2023 through self-study, overcoming...
Social Media
IFS Parveen Kaswan
Heartbreak by the River: 15-Day-Old Elephant Calf Rejected by Mother, Rescued by IFS Parveen Kaswan and His Team
Jaldapra, West Bengal: In a moving incident that tugs at the heart, a 15-day-old elephant calf was rescued...
Ashwini Bhide IAS and Anand Mahindra
Who Is IAS Ashwini Bhide, Hailed as a Role Model for Mumbai Metro Transformation by Anand Mahindra?
From heritage to high-tech: Bhide’s leadership in Metro Line 3 earns public praise and admiration
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
RBI
RBI Proposes Mandatory Unique Transaction Identifier for OTC Derivative Trades from April 2026
INS Trikand
Indian Navy’s INS Trikand Executes Heroic Firefighting and Rescue Operation on MT Falcon in Gulf of Aden
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
WhatsApp Image 2025-10-16 at 15.16
IDES Saquib Alam
ADVERTISEMENT
ADVERTISEMENT