Tata Consultancy Services (TCS) has successfully integrated operations of Tamil Nadu’s two rural banks — Pandyan Grama Bank and Pallavan Grama Bank, which were merged to form Tamil Nadu Grama Bank — onto TCS BaNCS Core Banking Solution within six months of the formation of the merged bank.
The merged entity, sponsored by Indian Bank, is headquartered in Salem, has 650 branches and 800 business correspondent outlets, covering all districts of Tamil Nadu, except Chennai. This is expected to give a significant boost to financial inclusion and access to credit in the rural areas, said an official of TCS.
The integration was complex because the two banks — sponsored by Indian Overseas Bank and Indian Bank respectively – operated on different core banking systems with very different processes and controls, disparate operating systems, databases and accounting systems. They had different partners for their delivery channels, said Ujjwal Mathur, Country Head – India, TCS.
“Our domain expertise in banking, customer-specific contextual knowledge and track record in successfully executing large and complex transformation programs have made us the preferred integration partner for banks – big and small – when they go through mergers and acquisitions,” he told
TCS has played a long-standing role in the technology-led transformation of RRBs in India, with the operations of over 40 per cent of all the RRBs currently supported by TCS BaNCS. The successful merger of these two banks is the latest milestone, furthering the Government’s mandate for consolidation of RRBs to strengthen the capital base, build scale and leverage technology for greater efficiency and to offer differentiated products that better meet rural credit needs, he said.
“Congratulations to the TNGB, Indian Bank and TCS teams on the successful integration of the two RRBs in a record time of six months. This is a phenomenal achievement and a significant milestone in our long and successful partnership with TCS,” said Padmaja Chunduru, MD & CEO, Indian Bank.