Polaris Software Lab Ltd said its unit Laser Soft won a project from the Andhra Pradesh State Cooperative Bank Ltd (APCOB) to implement core banking solution (CBS) in all its 22 district central cooperative banks (DCCBs) spread across the state. No price details of the contract were provided.
The proposed implementation will be executed through a unique multi-entity CBS rebranded as intellect core banking solution, with centralised deployment at Hyderabad being used by 569 branches and 22 head offices of the DCCBs. This cost effective model will facilitate easy transaction among customers of each of these banks across the other DCCBs, as if it were one bank without any re-conciliation issues. The new core banking solution will go live across all DCCBs under APCOB within this financial year, the company said in a regulatory filing.
On Tuesday, Polaris Software shares closed 3.8% higher at Rs192 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,614 points.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
