Maharashtra CM Inaugurates Core Banking Solution By ESDS In MAFCOCs Event

Online, July 24, 2012 (Newswire.com) - Year 2012 has been recognized as the "International Year of cooperatives "by the United Nations. In keeping with the global spirit, Maharashtra State Co-operative Societies Federation (MAFCOCS) and Maharashtra State Cooperative Department had organized "International Cooperative Meet" in Shirdi during 6th and 7th July 2012. This meet saw the presence of some of the most important figures of the state, including Shri. Prithviraj Chavan - Hon. Chief Minister Maharasthra, Shri. Harshavardhan Patil - Hon. Minister for Cooperation, Maharashtra State, all the directors of MAFCOCS and Shri Kakasaheb Koyate - President of MAFCOCS.

This meet was organized with the primary aim of recognizing the contribution of cooperative societies towards driving the economy, responding to social changes and their resilience to global economic fluctuations, and was focused on utilizing latest technology for empowering the cooperative sector to address challenges of stiff competition, technology, growth of the sector and credit recovery. The cooperatives banks have a bright future ahead, and can assist in creation of decentralized economy and help in socio-economic betterment.

Mr. Piyush Somani, CEO of ESDS Software Solution, one of the leading technology organizations working closely with Cooperative Banks & Societies, opined - "The lack of technology development for cooperative sector is the key factor due to which its prospects are going to other banks. The cooperative sector should work together towards adopting a standard technology platform which will bring all the cooperative banks and societies under one roof. This will also provide them inter-connectivity enabling them to transact within the group. By utilizing the latest technology in banking and cloud, cooperative credit societies and banks can easily compete and be at par with other private banks and nationalized banks, and maybe even outperform them." The event witnessed a strong audience, with ESDS being one of the prominent contributors. They were seen educating participants on the ways and methods to connect the 90000 ATMs across India. The ATM services provisioned by ESDS for Samata Cooperative Society were inaugurated by Shri. Prithviraj Chavan - CM of Maharasthra, Shri. Harshavardhan Patil - Minister for Cooperation, Maharashtra State. During the discussions with CM, Kakasaheb Koyate identified ESDS as the leading provider of core banking, NEFT, RTGS and ATM Connectivity services to cooperative credit societies and cooperative banks and also confirmed that ESDS will be working with MAFCOCS as its Technology Partner.

The reach of these cooperative societies is immense, serving almost 3 Crore people. Addressing the intense competition amongst the credit societies, Mr. Bhaskarrao Kothavade said in his speech, "Owing to the competition between cooperative societies / banks and private financial institutions, the credit societies are also ensuring that their clients are always happy with the services being provided. The cooperative sector is gaining momentum across India through the services it provides and the faith and relation it has with the common man. I would say that the cooperative socities are at the forefront of building and strengthening the Indian economy. The cooperative societies have to slowly and steadily move towards adapting latest technology to provide services comparable to the nationalized and private banks. This will ensure that the cooperative societies are at par with their competition and will help in growing the client base. ESDS Software Solution Pvt. Ltd. will help the cooperative societies through this transition." The International Cooperative Meet was hugely successful and concluded with the felicitation of various credit societies through medallions, trophies followed by the cooperation anthem.

About ESDS

ESDS is a group of web hosting companies based in United Kingdom and United States of America. ESDS fully owns and operates a high specification, carrier-neutral, and fully managed data center in the state of Maharashtra including Co-location Services, Managed Dedicated Server, Cloud Computing, Hosted Core Banking Solution, ERP implementation and Hosting, Grid Server Hosting, VMware, Virtuozzo, Microsoft Hyper-V Cloud Hosting, Windows Server 2008 and Application Services. ESDS is amongst the leading IT companies in E-Governance and M-Governance sector. ESDS is known for offering the best support services carried out by a team of fully trained and experienced Technical Support and Network Operations Center engineers.