Technology, Financial Inclusion and Role of Urban Cooperative Banks

The focus should be to simplify the technology which can operate on any platform. The technology solution to the business needs should be user-friendly without much third-party or IT vendor intervention or support requirement for operating the same. In this context, the banks need to redesign their business strategies to incorporate specific plans to promote financial inclusion of low income group treating it both a business opportunity as well as a social responsibility.The Reserve Bank’s endeavour has been to strengthen the UCBs so that they run on sound principles without posing any systemic problems. [Speech at the Foundation Day and Inauguration of the ‘Core Banking Solution Project’ of the A.P.Mahesh Co-op Urban Bank Ltd. at Hyderabad].