Wipro completes implementation of core banking solution at Kaveri Grameena Bank

IT company Wipro on Tuesday announced completion of core banking solution in all branches of Kaveri Grameena Bank. "Wipro Limited on Tuesday announced the successful implementation of core banking solution for Kaveri Grameena Bank," the company said in a statement. Wipro had earlier provided solutions for 688 branches of Pragathi Krishna Gramin Bank. "Now, the company has completely migrated 479 branches of Kaveri Grameena Bank for the newly formed Karnataka Gramin Bank. The amalgamated RRB will leverage the core banking solution platform to deploy state-of-the-art technology in all its 1,167 branches," the statement said.

The roll-out is part of the merger with Pragathi Krishna Gramin Bank to form Canara Bank sponsored Regional Rural Bank (RRB), Karnataka Gramin Bank. * * * * * * * Sterling & Wilson board okays amalgamation of SW WAAREE arm * Sterling and Wilson Solar on Tuesday said its board has approved the draft scheme for amalgamation of its arm SW WAARE into it.

"Board of Directors of Sterling and Wilson (SW) SOLAR at its meeting held on March 16, 2020, has, inter alia, approved the draft Scheme.. (which) provides for amalgamation and vesting of SW WAAREE, wholly-owned subsidiary with and into SW SOLAR," a BSE filing said. The appointed date for the scheme is April 1, 2020. Besides, no equity shares will be issued by SW SOLAR to the shareholders of SW WAAREE as entire share capital of SW WAAREE is held by SW SOLAR itself. Moreover, the scheme does not involve payment of any cash consideration. As of December 31, 2019, the SW WAAREE had total assets of Rs 50.20 crore and net worth of Rs 36.66 crore.

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