Co-operative Banks adopt Sarvatra

Sarvatra is a money SW system to provide the ease of anywhere money

A cost-effective Anywhere Money system-Sarvatra - specially designed for

co-operative banks using point of sale (PoS) terminals on simple telephonic

network was launched across Goa by Goa's apex co-operative bank - Goa State

Co-operative Bank (GSCB).

Developed by Pune-based ebz online, along with a technical collaboration with

i-flex solutions ltd, Sarvatra was deployed at 13 of the total 64 branches of

Goa State Co-operative Bank, covering all 11 talukas, within a span of 30 days.

"The bank will extend this service to more branches after we receive the

desired results," said Prakash Velip, Chairman, GSCB.

Sarvatra is a money software system developed for the co-operative banks to

provide the customers the convenience of anywhere money, ie they can withdraw or

deposit money at any branch of a bank. Thus with Sarvatra one will be able to

avail non-ATM based anywhere banking services through PoS terminals set up at

branches. "This product is extremely convenient to customers and is very

affordable to co-operative banks as compared to setting up a network of ATM

machines, which require a centralized banking solution", said Mandar Agashe,

MD, ebz online.

Manohar Parrikar, Chief Minister, Goa, while launching the Sarvatra card,

offered State-run Mahiti Ghar (Information Kiosk) to be used as Sarvatra centers

for GSCB.

The most interesting feature of this system is that the bank intending to

implement it need not be computerized nor it needs the expensive computer

network. All that it needs is the POS terminal costing around Rs 25,000 and the

Sarvatra software, which cost Rs one lakh per branch and a telephone line.

The user swipes the card in the machine like any other ATM and request for

the cash withdrawals or deposits, as the case may be, at any of the branches of

the bank and the request would travel through the telephone line to the base

branch for confirmation and back within nine seconds. However, the customer has

to get it countersigned by the manager before collecting the amount from the

cashier.

Niraj Naik, Goa


(CyberMedia News)