Central Bank, Wipro in banking solution pact

The Central Bank of India and Wipro have announced a five-year total outsourcing agreement to provide technology-driven, core banking solution for seven sponsored regional rural banks (RRB). This engagement comes at time when Central Bank of India is looking to achieve its objective of financial inclusion and bring low-cost and efficient banking services to the rural masses. The Core Banking project would integrate 2,000 sites which include branches, extension counters, satellite offices, regional offices, head offices and back-offices in a phased manner.