SISCO bank to provide core banking facility

JANUKA SHARMA

Gangtok: The Sikkim State Cooperative (SISCO) Bank is all set to start Core Banking services with the Universal Financial Inclusion Technology Fund. The bank has received a grant of Rs.2 crores from National Bank for Agriculture & Rural Development (NABARD) to start the core banking services. National Information Centre (NIC) would provide computer hardware and software worth Rs.2 crores free of cost to the bank for starting core banking, informed SISCO bank managing director, N.N Joshi.
He said that all the existing branches of the bank will be networked with the bank’s main office.

In Sikkim, 75 multi-purpose cooperative societies have micro-banking facilities at present. Eight new branches of the SISCO Bank are proposed at Soreng, Sombaria, Yang Gang, Pakyong, Ravangla, Ranipool, Hee-gaon and Rongli bringing the total number of branches to fourteen, Mr. Joshi said. He added, once the core banking service is commissioned 18 ATM machines will be installed in Gangtok, Ranipool and other places for convenience of customers.