TCS and Rajarambapu Sahakari Bank Deepen Partnership, Integrate TCS BaNCS for Treasury to Enhance Operations

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, announced that Rajarambapu Sahakari Bank (RSB), a digitally-progressive urban co-operative bank in India, has selected TCS BaNCS™ for Treasury to automate its treasury operations. TCS will deploy an integrated platform to strengthen RSB's digital ecosystem and enable efficient management of investments, money markets, repo, and reverse repo transactions. The transformation will enable the bank to become more agile and responsive to its customers' evolving needs and strengthen its competitive edge in the financial sector.

TCS has been a growth partner to RSB for over 5 years. The Bank has fully implemented the advanced TCS BaNCS Global Banking Platform, enabling real-time processing across its 50 branches. In the next phase of its digital transformation, the bank is extending its partnership with TCS with the selection of TCS BaNCS for Treasury, a single, consolidated solution with advanced risk analytics and real-time position keeping capabilities, is aimed at enhancing its treasury business by adding more asset classes such as corporate bonds and debentures, reducing manual intervention, increasing STP (Straight-Through Processing), offering new products and aligning with regulatory compliance-related upgrades.

Pradip Nivrutti Babar, Managing Director, Rajarambapu Sahakari Bank, said, "The selection of TCS BaNCS for Treasury is a logical next step in modernizing our technology, complementing the front-end services we offer our customers through our digital core banking solution. We have a strong digital footprint across mobile banking and payments and look forward to leveraging the TCS BaNCS for Treasury product to enhance liquidity management, regulatory reporting and risk oversight, supporting our technology-led growth strategy."

Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, "We are delighted to partner with RSB to transform its treasury operations using our state-of-the-art TCS BaNCS for Treasury platform. This comprehensive, modern, and highly adaptable solution is designed to enhance agility, significantly increase automation, manage risk effectively, and optimize the overall treasury operations for the bank. India's cooperative banking sector is a focus for us and we remain committed to transforming India's banks with our world-class, future-ready technology solutions."

Rajarambapu Sahakari Bank is a banker of choice to semi-urban and rural communities. It provides accessible credit, agricultural financing, and comprehensive banking services to local communities. As a forward-thinking co-operative bank, it plays a vital role in fostering local entrepreneurship at the grassroots level across the country.

For nearly six decades, TCS has played a pivotal role in shaping India's technological transformation. Trusted by banking and financial institutions across India and around the globe, TCS delivers comprehensive solutions that empower millions of Indians. The company actively supports underserved and rural communities through government programs aimed at strengthening financial inclusion. From digitally enabling India's leading stock exchanges, working with major financial institutions, to enhancing passport issuance systems, health insurance, pensions for defence personnel, and more, TCS delivers hightouch citizen-centric services to the nation.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3121.30 as compared to the previous close of Rs. 3108.05. The total number of shares traded during the day was 183440 in over 19607 trades.

The stock hit an intraday high of Rs. 3137.25 and intraday low of 3082.00. The net turnover during the day was Rs. 570240738.00.

Source : Equity Bulls

Keywords

TataConsultancyServices INE467B01029 TCSBaNCS RajarambapuSahakariBank