Well-known
Digital Marketing Agency, Storage vendor NetApp and Indian rural development
lender the National Bank for Agriculture and Rural Development (Nabard) are
cooperating with each other in a bid to help cooperative banks to fund their
data center-led disaster recovery strategies.
The scheme will help automate disaster responses via a newly created core
banking solution (CBS), designed to give the small to medium sized banking
sector in India the options to use multiple technology platforms.
According to Nabard’s chief general manager Subrata Gupta, the rationale is
to create the right conditions for financial inclusion in rural India. The data
centers that underpin the CBS system have allowed Nabard to reach out to
India’s rural sector. NetApp’s solution has taken us a step closer in achieving
our goal of financial inclusion in India.
Gupta said the data center strategy has brought all the cooperative banks
onto a single technology platform, which has created the possibility for faster
transactions and better regulatory compliance with the Indian Reserve Bank.