Madgaon Co-op Bank begins core banking
HERALD REPORTER
MARGAO, JAN 9
The Madgaon Urban Cooperative Bank added another feather to its cap when it ventured into core banking on Sunday and has drawn up ambitious plans to open ATMs across the state.
The online banking was commissioned at the Aquem branch of the bank at the hands of former bank chairman Ramakant Angle in the presence of Chairman Kishore Narvekar, board of directors, staff and employees.
“We have taken the Bank on Core Banking platform to extend the benefits of ‘anywhere banking’ to our esteemed customers. Customers can now walk in any branch of the bank to carry out their depository and withdrawal transactions, besides inquire about their account information, irrespective of the branch where they have an account”, informed Madgaon Urban Cooperative bank Chairman Kishore Narvekar.
He said the bank has plans to open delivery channels like ATMs in the near future, adding that additional channels like ‘web banking’, ‘SMS banking’ will be also implemented in due course of time.
The bank has built their own ‘Data centre’ adhering to the best practices of data centre design, taking care of all required parameters to ensure maximum ‘uptime’, he said.
Narvekar said as part of the golden jubilee year of Goa liberation, the bank has decided to offer one per cent additional interest on their deposits.
The Bank Chairman further said the bank as a mark of respect to all the freedom fighters in the Golden Jubilee year of Goa Liberation has offered one per cent additional interest on their deposits. He further said the Bank will open as many as seven more branches at Pernem, Bicholim, Mapusa, Porvorim, Vasco, Verna and Canacona in the near future
Former Bank Chairman Ramakant Angle said the bank has set a vision to become the No. 1 bank in the state. “Madgaon urban cooperative bank already occupies the number one status in South Goa. We have now set a target to achieve the status as no one bank in the state within the next 4-5 years”, Angle said.
Angle said the Single Information Window allows management to view ‘online’ ‘MIS’ reports to make strategic decisions. “Automation shall make staff available for marketing and recovery purposes that shall facilitate potential enhancement in profit”, he said, adding that customer convenience counters will facilitate easy understanding of bank’s products and also attend to any post marketing queries.
