In its bid to have a multi-fold impact on the rural economy and take e-governance to the rural sector, CoOptions Technologies Ltd is focused on intelligent data warehousing and data mining technologies and creation of a cyber agro economy. Mr NS Raghavan, co-founder and former joint MD of Infosys Technologies Ltd has recently joined the company. This was stated by the chief executive officer, Mr Subrahmanyam Yadavalli. Mr Raghavan will be the principal advisor for the confidence-building exercise and will also be an angel investor. Initially, in the first phase, he may hold a 12 per cent stake in the company and may hold more in the second and final phases, Mr Yadavalli said.

Mr Raghavan will support CoOptions in its commitment to bring a sea change in the rural credit market and economy, he said. The first phase is currently underway in Andhra Pradesh with the introduction of its flagship product Pax@2000 and the second phase is likely to cover all the southern states and Gujarat. The final phase will cover the rest of the states to create a cyber agro economy. The third phase, which is likely to be completed by the end of 2003, will also have an IPO round, Mr Yadavalli said. The company plans to establish call centres and data centres in all district headquarters and is the first company to use smart card technology for credit needs through its `Smart Kissan' scheme for Andhra Pradesh State Cooperative Bank Ltd.