An Effective E-governance Model for Financial Institutions in India

Indian post liberalization era witnessed a phenomenal growth in the number of Non Agricultural Cooperative Credit Societies (NACCS) particularly in the state of Maharashtra. The regulatory mechanism however could not cope with the pace and fail to control some of these NACCS. A series of debacle and collapse of several NACCS that cause money loss of several lower, lower-medium income class investors' underlines the importance of prompt, persuasive and trust worthy regulatory mechanism. We propose an IT enabled, domain expert knowledge supported (intelligent) model for the regulatory authority to monitor functioning of NACCS. The architectural details and the description of the component modules of the developed system are presented. The financial information of 184 NACCS of Jalgaon district is provided to the model. The effectiveness of the proposed model is tested and verified by the regulating authorities of Jalgaon district.