Wipro Infotech has announced it has signed a 5 year strategic contract to drive Canara Bank's Regional Rural Bank (RRB) initiative. The contract to provide a state-of-the-art, technology-driven, core anking solution for three of Canara Bank's sponsored Regional Rural Banks - Pragathi Gramin Bank, Karnataka, South Malabar Gramin Bank, Kerala, and Shreya Gramin, Uttar Pradesh.

The engagement is of vital importance to Canara Bank to achieve its objective of financial inclusion and bringing low cost and efficient banking services to the rural masses. The centralized Core Banking Solution is not only expected to facilitate efficient internal operations for the three RRBs but also increase its competitive edge in its ability to offer innovative products and services at optimum costs.

The Core Banking project aims to integrate around 900 branches and offices in a phased manner. This would include Branches, Extension Counters, Service Units, Head Offices, Regional Offices, Training centers, other back offices, Data Centre, Disaster Recovery Centre, Project Office which would also operate as the Data Centre Monitoring Unit (DCMU), and Network Operations Centre (NOC).

Wipro will also setup a 24-hour centralized Helpdesk facility for the project covering applications, Data Center, networks, security and end user systems.

The Chairmen of all three RRBs said, "The mission of RRBs is to transform into a Bank with sound financials, committed to overall economic development of rural areas with care, competence and compassion towards its customers. Coupled with Wipro's technological expertise, we are confident of achieving this mission including expanding our client base to make it the most preferred Banking outlet in rural India."