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