Palli Sanchay Bank has introduced online real-time core banking solutions to provide quick services through the digital platform.

Finance Minister AMA Muhith on Thursday launched the service by providing loans at three branches -- in Rupganj of Narayanganj, Sylhet Sadar and Bogra -- through a video conference from his secretariat.

The bank authorities announced that the online service would be available in all of the bank's 485 branches in the next three months. Established in June 2016 through a special act, Palli Sanchay Bank has branches in every upazila.

Muhith said this was the first time that such an institution was going to provide online services accessible from every branch.

Many of the local banks do not have the service, he said.

At the function, loans ranging from Tk 20,000 to Tk 30,000 were given to borrowers. Some borrowers said the loan limit should be increased as it was small compared to what they needed.

Muhith acknowledged this but did not give any assurance.

Palli Sanchay Bank Chairman Mihir Kanti Majumder said they would never establish branches in urban areas, rather, they plan to open branches further down the grassroots -- at the union level.

A statement of the bank said transaction related data of about 22 lakh members in 40,215 cooperatives of 485 upazilas would be uploaded online in the next three months.

Senior secretaries Hedayetullah Al Mamun (finance division) and Yunusur Rahman (banking division) also spoke.