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Maharashtra State Co-operative Societies Federation Signs MoU with Intel for Deployment of Technology Among Co-operative Societies

Mumbai, June 26, 2006 - Maharashtra State Co-operative Societies Federation [MAFCOCS] today signed a Memorandum of Understanding (MoU) with Intel Technology India Private Ltd. As per the understanding, both the parties will jointly campaign to increase awareness of IT adoption/solutions to benefit the spread of credit societies in the country.

As per the MoU, Intel will advise MAFCOCS on various aspects of technology, including the selection process, and deployment framework, and will offer to share its experience both in the consumer premise equipment, and connectivity infrastructure. Intel will also support MAFCOCS in its mission to deploy the common ICT infrastructure for co-operative credit societies, while educating the federation team on relevant & upcoming software & hardware technologies.

MAFCOCS will in turn support enabling of credit society’s software content on Intel architecture. Under the agreement, the federation will deploy 10,000 Intel Powered Community PCs for the rural needs of credit societies during the next one year as part of the first phase. MAFCOCS will also promote the Intel Community PC amongst its 80,000 credit societies nationally, which cater to approximately 30 million account holders.

“We recognize the challenges of community development and believe that technology and information will empower the people of India. In fact, our recently announced ‘World Ahead’ program aims to accelerate access to uncompromised technology across Indian towns. By working in tandem with associations like MAFCOCS we believe that we are taking another step ahead in this program”, said Mr. Amar Babu, Managing Director, Sales and Marketing, Intel (South Asia).

“MAFCOCS seeks to provide the co-operative credit societies in Maharashtra advanced technology that will enable the economical social development of the community. Our association with Intel will ensure these societies get greater access to affordable and advanced technology”, said Lalit Sakalchand Gandhi, Founder and Chairman Maharashtra State Federation Co-Operative Credit Societies Ltd.

Intel understands the impact of research and innovation required to address the socio-economic situations prevalent in rural communities in India. Intel has, in the past, in consultation with various grass root operators, designed a Community PC. This association [with MAFCOCS] will further strengthen Intel’s initiatives allowing technology to empower the community.

Intel's ‘World Ahead’ program seeks to accelerate access to uncompromised technology and Internet connectivity across India, including C and D class cities. Our collaboration with MAFCOCS would enable uninterrupted high speed Internet connectivity at very affordable rates through our wide channel partner network. Reaching 80,000 credit societies across India, this initiative is another step in Intel’s World Ahead program.

MAFCOCS is a federal body representing the co-operative credit societies in Maharashtra. Its vision is to provide organizational, conceptual procedural and futuristic support to the credit societies for economical social development of community through credit societies. The vision also aims to improve the governance and empowering the co-operatives by united efforts.

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