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Issue of August 2006 

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MAFCOCS signs 600 crore MoU with Intel

The Maharashtra State Federation Co-operative Credit Societies (MAFCOCS) and Intel have signed an MoU worth approximately Rs 600 crore. The MoU involves joint efforts for deploying various IT solutions that will enhance MAFCOCS’ efficiency and reach.

The venture is expected to reach about 80,000 co-operative credit societies across the state on Intel architecture by the end of the deployment. Under the agreement, the state federation shall deploy about 10,000 Intel powered community PCs for rural needs of various credit societies as a part of phase one within the first year.

The objective will be to connect all the possible co-operative credit societies across the country by 2009. Rs 100 crore will be invested in phase one. This strategic tie-up is expected to elevate rural banking processes at par with urban corporate banking and ensure facilities such as anywhere banking.

The project is currently planned to be deployed on Windows-based servers with data centres located at Pune. Intel will help set-up data centres which will be scaled up in order to cater to possible future needs of co-operative credit societies.

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Indian Express - Business Publications Division

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