Role of Information Technology in Indian

Banking Sector
Prof. M.C. Sharma
1
Abhinav Sharma
2
Abtract
Information technology refer to the ac!"iition# $roceing# torage and diemination of all ty$e of
information "ing com$"ter technology and telecomm"nication ytem. Technology incl"de all mater
concerned %ith the f"rtherance of com$"ter cience and technology and %ith the deign# develo$ment#
intallation and im$lementation of information ytem and a$$lication. Information technology
architect"re i an integrated frame%ork for ac!"iring and evolving IT to achieve trategic goal. It ha
both logical and technical com$onent. Com$"ter hard%are and oft%are# voice# data# net%ork# atellite#
other telecomm"nication technologie# m"ltimedia are a$$lication develo$ment tool. Thee
technologie are "ed for the in$"t# torage# $roceing and comm"nication of information.
Information technology incl"de ancillary e!"i$ment# oft%are# firm%are and imilar $roced"re# ervice etc.
Modern high thro"gh$"t technologie are $roviding vat amo"nt of the e!"ence# e&$reion and f"nctional
data for gene and $rotein. 'ne of the mot diffic"lt challenge i t"rning thi enormo" $ool of information
into "ef"l cientific inight and novel thera$e"tic $rod"ct.
(ey%ord)
Com$"ter# Information Technology# Telecomm"nication.
1. *e$artment of +A,M# -ovt. R.R. P- College# Al%ar .Ra/athan0. Contact 1o. 2 3412
4567688789
2. *r. (.1. Modi :niv. 1e%ai .Ra/athan0# B2159# Ran/eet 1agar#
Al%ar2;91991 Contact 1o.2 34124462;4;59#+2mail)2 abhinavharma549<gmail.com
1
Role of Information Technology in Indian Banking Sector
Introd"ction
=ith the globali>ation trend %orld over it i diffic"lt for any nation big or mall# develo$ed
or develo$ing# to remain iolated from %hat i ha$$ening aro"nd. ,or a co"ntry like India#
%hich i one of the mot $romiing emerging market# "ch iolation i nearly im$oible.
More $artic"larly in the area of Information technology# %here India ha definitely an edge over
it com$etitor# remaining a%ay or "niformity of the %orld trend i "ntenable. ,inancial ector in
general and banking ind"try in $artic"lar i the larget $ender and beneficiary from
information technology. Thi endeavo"r to relate the international trend in it %ith the
Indian banking ind"try.
The lat lot incl"de $oibly all foreign bank and ne%ly etablihed Private ector bank#
%hich have f"lly com$"teri>ed all the o$eration. =ith thee variation in the level of
information technology in Indian bank# it i "ef"l to take acco"nt of the trend in
Information technology internationally a alo to ee the com$arative $oition %ith Indian
bank. The $reent article tart %ith the bank $erce$tion %hen they get into IT "$ gradation.
All the trend in IT ector are then dic"ed to ee their relevance to the tat" of Indian
bank.
IT Conideration
Since the early ninetie# each Indian bank ha done ome IT im$rovement effort. The firt and
foremot com$"lion i the fierce com$etition. =hile deciding on the re!"ired
architect"re for the IT conideration i given to follo%ing realitie.
.1.0 Meeting Internal Re!"irement) The re!"irement of the bank are different
individ"ally de$ending "$on their nat"re and vol"me of b"ine? foc" on a $artic"lar
egment# $read of branche and a like. Many a time@ bank do have the re!"ired
information b"t it i cattered. The o$erating "nit eldom kno% the $"r$oe of gathering the
information by their higher a"thoritie.
.2.0 +ffective in *ata Aandling) A tated earlier the bank have mot of the needed data b"t
are ditrib"ted. ,"rther the cot of collection of data and $"tting the ame to "e i
$rohibitively high. The acc"racy and timeline of data generation become the ca"alitie in the
$roce. Bet of the intention on com$"teri>ation are %ihed a%ay beca"e there i nonviible
red"ction in cot BeffortBtime re!"ired for the re!"ired data gathering.
.;.0 +&tending C"tomer Service) Addreing to riing c"tomer e&$ectation i
ignificant $artic"larly in the backgro"nd of increaed com$etition. In cae bank A i "nable
to $rovide the re!"ired ervice at a com$etitive $rice and in an acc"rate manner %ith $eed.
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There i al%ay a bank IT at it ne&t2door %aiting to hire the c"tomer. A%arene of
c"tomer abo"t the availability of ervice and their $ricing a alo available o$tion have
bro"ght into har$ foc" the i"e of c"tomer atifaction.
.7.0 Creative S"$$ort for 1e% Prod"ct *evelo$ment) It ha become neceary for the bank to
vitali>e the $roce of $rod"ct develo$ment. Marketing f"nctionarie need a lot of information
not only from the o"tide o"rce b"t alo from %ithin the bank. Bank are looking to retail
egment a the f"t"re market $lace for ale effort. Aaving f"ll2fledged information of
e&iting c"tomer i the key for thi $"r$oe. The emergence of data re!"irement and an
a$$ro$riate architect"re to "$$ort the ame are ignificant i"e to be handled in thi regard.
.C.0 +nd2"er *evelo$ment of the 1on2technical Staff) Banking being a ervice ind"try# it i the
taff at co"nter that deliver the $rod"ct. In Indian cenario# virt"al banking i likely to have a
fe% more year to etablih. The de$endence on co"nter taff i "navoidable. The taff are large
in n"mber and the ma/ority i non2technical. The c"tomer atifaction level at the co"nter
determine the "ltimate benefit of IT offenive. -iving d"e conideration to thi a$ect in chooing
architect"re in neceary.
Trend in Information Technology
Certain trend have been vi"ali>ed of information technology in banking ector all over the
%orld.
.1.0 '"to"rcing) '"to"rcing i one of the mot talked abo"t a alo a controverial i"e.
The driver for getting in to o"to"rcing are many to incl"de ga$ in IT e&$ectation and the
reality# demytification of com$"teri>ation in general and IT in $artic"lar# trend to%ard
foc"ing on core com$etencie# increaed legitimacy of o"to"rcing and intention of getting
o"t of %orrie and ort of "$ gradation of hard%are and oft%are verion. 1ot that the
$ractice i ne% a earlier it %a ref"ed to a Db"ying time@ or Dervice b"rea"@. =hat i
needed i the clear of o"to"rcing# beide a definite $lan to be more com$etitive after
o"to"rcing. It i neceary to have check and balance to monitor vendor $erformance. Cot
a$ect merit conideration# a alo a deciion on the $art of the $roce to be o"to"rced
hall be ignificance. +&it ro"te and reo"rce on the amo"nt of fail"re after o"to"rcing are
the other i"e to be looked onto. 1ot %ithtanding thee rik# o"to"rcing ha come to ay.
.2.0 Integration) 'ne of the IT trend i moving from hierarchy to team a$$roach. The
$"r$oe i to ee an alternative to retooling# to react $eedily and to develo$ ca$abilitie
rather than e&$loiting them. S"ch integration i neceary o a to addre to $revalent
it"ation)
.a0 ,"nction needing data and not getting from other.
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.b0 Sending data to thoe %ho do not %ant to re!"ire them.
.c0 -lobal data e&it b"t do not travel to re!"ired b"ine f"nction.
Indian bank eem to follo% thi trend thro"gh the incere redeign a decribed earlier.
Intead of vertically divided $yramid ty$e organi>ational et2"$# bank are no% being to
have e$arate gro"$ like finance# international con"mer banking# ind"trialBcommercial
credit etc.
.;.0 ,rom Solo to Partnerhi$) =ith the develo$ment of IT# t%o thing are taking $lace
im"ltaneo"ly. The %ork force a a $ercentage of total taff i going do%n and $ending on IT a
$ercentage of total $ending i going "$. The form of $artnerhi$ can incl"de binding by
"$erior ervice# accommodation in ervice haring net%ork# e!"al $artnerhi$ and
it"ation# %here "rvival i threatened. At time# the $artnerhi$ become neceary to get o"t
of area %here there i no com$etitive advantage. Eo% develo$ment cot or %ider
geogra$hical coverage i the a$ect that create "ch $artnerhi$. Intance are not fre!"ent#
%here /oint vent"re have been fo"nd %ith the IT vendor.
.7.0 *itinctive +dge) It i al%ay aid that many "e b"t a fe% make "e of IT. Aitorically#
the em$hai i on "ing IT for large vol"me like $ayroll# balancing the book# the
conolidation etc. That reali>ation on having IT a matter of com$etitive edge ha come abo"t
very lately. It i recogni>ed that c"tomer ervice i not an eay thing to $rovide# b"t IT i
"ed a a mean. It doe give val"e addition and erae barrier for com$etitor to enter.
Bank "ndertand that the cot of c"ltivating the ne% c"tomer i C to 8 time of retaining the
old one. C"tomer normally %itche bank d"e to $oor ervice. The a$$reciation of thee
fact ha com$elled the bank %orld over to look "$on IT a an intr"ment to create
ditinctive edge over com$etitor. The $rivate ector bank that %ere etablihed in 1449@ a
a $art of finance ector reform did make good of IT to have an edge over the other. The
foreign bank o$erating in India have alo been able to market IT "$eriority a a ditinctive
edge. The $"blic ector bank are till to make "e of IT in thi regard# altho"gh they are
bleed %ith h"ge information bae all acro the co"ntry. =hile te$ are mooted in thi
direction by leading $"blic ector bank# more offenive $ot"re are neceary.
.C.0 IT a Profit Centre) In the embryonic $hae# IT %a looked "$on a mean to get rid of
high $roceing cot and time and to convert the man"al o$eration %ith high vol"meBlo%
com$le&ity in t%o mechanical one. =ith the evol"tionary the $roce# it %a een a the bet
mean of generating# MIS. The ame a$$roach gave the tat" of *SS to IT. All along# IT ha
been recogni>ed a the ervice f"nction in Indian Bank. Ao%ever# the ne% trend that i
emerging i conidering IT a a $rofit centre. The cot benefit analyi of having IT or
other%ie in one $art. B"t having IT et "$ to generate income for the organi>ation i the ne%
beginning. -etting /ob from o"tide the bank for $roceing data and the like are the c"rrent
trend. The o"to"rcing done by other i the b"ine# cater to by thee organi>ation the
trend of thi kind i not deerved in Indian it"ation $artic"larly bank. The Bank have been
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able to /"t manage %hat i to conider a their re$onibility a IT# %ithin the individ"al
bank.
.8.0 Pro$ering in *o%n Market) The trend "gget that %hen there i a do%n t"rn in the market
$lace# Pro2active cor$oration take the benefit of available "n"tili>ed reo"rce to "$grade and
reviit technology i"e. Thi i een a the right time to etablih the R F * centre for IT.
There are fale notion abo"t technology and it ca$ability. Some miconce$tion
incl"de)
G Bet2fit $oible technology i im$lemented.
G Sytem ol"tion i good eno"gh and there i need to look into "er e&$ectation.
G Innovation are generally "ccef"l.
G S"cce i related only to novel idea.
G Technology i the ole determinant of b"ine "cce# and
G Mea"re and tandard i.e. a"dit and in$ection i"e tand in the %ay of innovation.
The time available to debate on imilar i"e i am$le and thee fale notion get clarified
d"ring the do%n market. +vent"ally# the deciion maker reach a conen" that IT i not a
$anacea b"t it i an enabler that too %hen %ell "$$orted by BRP .B"ine Proce Re2
engineering0# h"man reo"rce initiative# $hyical infratr"ct"re and re$onive organi>ation
et "$.
.5.0 Eeading to *o%ni>ing) The IT initiative i making the organi>ation lean and flat. ,or
IT f"nctionarie do%ni>ing mean tranferring com$"ting $o%er from mainframe to the
$eronal com$"ter and %orktation. *o%ni>ing i a ty$ical i"e faced %ith aociated
$roblem. Abence of to$ management commitment# lack of "ndertanding of the $revalent
IT infratr"ct"re# doing too m"ch and too fat and "ndertaking the e&ercie %itho"t a
frame%ork for controlling the do%ni>ing o$eration are $rimarily the it"ation that create
adveritie in do%ni>ing. In any cae the trend of do%ni>ing i very m"ch e&itent in the IT
environment.
.6.0 -etting Com$etitive Intelligence) IT i no% een a a reo"rce for gathering and
diemination of e&ec"tive information ytem .+IS0. The $"r$oe i to minimi>e that the
bombarding and foc"ing on the relevance# acc"racy and timeline of the information
$artic"larly abo"t the com$etitor "ch information enhance follo% "$ and track early
%arning on com$etitor move and alo c"tomer e&$ectation.
A far a Indian bank are concerned individ"ally# they have to com$ete %ith other banking
ind"try $artici$ant a alo %ith other $layer in the financial ector. The com$etition from
for in"rance and government note and aving# m"t"al f"nd and the like i al%ay
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forthcoming $artic"larly beca"e of attendant ta& benefit. Collection of re!"ired information and
"ing the ame for b"ine $"r$oe i contrained by the availability of the information# it
vol"me and diverity. A "ch it may take ome time for thi trend to be viible in Indian
banking cenario.
Recent *evelo$ment in Banking Sector
.1.0 Internet) Internet i a net%orking of com$"ter. In thi marketing meage can be
tranferred and received %orld%ide. The data can be ent and received in any $art of the
%orld. In no time# internet facility can do many a /ob for ". It incl"de the follo%ing)
G Thi net can %ork a electronic mailing ytem.
G It can have acce to the ditant databae# %hich may be a ne%$a$er of foreign
co"ntry.
G =e can e&change o"r idea thro"gh Internet. =e can make contact %ith anyone %ho
i a linked %ith internet.
G 'n internet# %e can e&change letter# fig"reBdiagram and m"ic recording.
Internet i a fat develo$ing net and i of "tmot im$ortant for $"blic ector "ndertaking#
+d"cation Intit"tion# Reearch 'rgani>ation etc.
.2.0 Society for =orld%ide Inter2bank ,inancial Telecomm"nication .S=I,T0) S=I,T#
a a co2o$erative ociety %a formed in May 145; %ith 2;4 $artici$ating bank from 1C
co"ntrie %ith it head!"arter at Br"el. It tarted f"nctioning in May 1455. RBI and 25
other $"blic ector bank a %ell a 6 foreign bank in India have obtained the memberhi$ of
the S=I,T. S=I,T $rovide have ra$id# ec"re# reliable and cot effective mode of
tranmitting the financial meage %orld%ide. At $reent more than ;999 bank are the
member of the net%ork. To cater to the gro%th in meage# S=I,T %a "$grade in the 69
and thi verion i called S=I,T2II. Bank in India are hooked to S=I,T2II ytem.
S=I,T i a method of the o$hiticated meage tranmiion of international re$"te. Thi i
highly cot effective# reliable and afe mean of f"nd tranfer.
G Thi net%ork alo facilitate the tranfer of meage relating to fi&ed de$oit# interet
$ayment# debit2credit tatement# foreign e&change etc.
G Thi ervice i available thro"gho"t the year# 27 ho"r a day.
G Thi ytem en"re againt any lo of m"tilation againt tranmiion.
G It erve almot all financial intit"tion and elected range of other "er.
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It i clear from the above benefit of S=I,T that it i very beneficial in effective c"tomer
ervice. S=I,T ha e&tended it range to "er like broker# tr"t and other agent.
.;.0 A"tomated Teller Machine .ATM0) ATM i an electronic machine# %hich i o$erated by the
c"tomer himelf to make de$oit# %ithdra%al and other financial tranaction. ATM i a te$
in im$rovement in c"tomer ervice. ATM facility i available to the c"tomer 27 ho"r a day.
The c"tomer i i"ed an ATM card. Thi i a $latic card# %hich bear the c"tomer@ name. Thi
card i magnetically coded and can be read by thi machine. +ach cardholder i $rovided %ith a
ecret $eronal identification n"mber .PI10. =hen the c"tomer %ant to "e the card# he ha to
inert hi $latic card in the lot of the machine. After the card i a recogni>ed by the machine#
the c"tomer enter hi $eronal identification n"mber. After etablihing the a"thentication of
the c"tomer# the ATM follo% the c"tomer to enter the amo"nt to be %ithdra%n by him.
After $roceing that tranaction and finding "fficient balance in hi acco"nt# the o"t$"t lot
of ATM give the re!"ired cah to him. =hen the tranaction i com$leted# the ATM e/ect the
c"tomer@ card.
.7.0 Cah *i$ener) Cah %ithdra%al i the baic ervice rendered by the bank branche. The
cah $ayment i made by the cahier or teller of the cah di$ene i an alternate to time aving.
The o$eration by thi machine are chea$er than man"al o$eration and thi machine i chea$er
and fat than that of ATM. The c"tomer i $rovided %ith a $latic card# %hich i magnetically
coated. After com$leting the formalitie# the machine allo% the machine the tranaction for
re!"ired amo"nt.
.C.0 +lectronic Clearing Service) In 1447# RBI a$$ointed a committee to revie% the
mechani>ation in the bank and alo to revie% the electronic clearing ervice. The committee
recommended in it re$ort that electronic clearing ervice2credit clearing facility ho"ld be
made available to all cor$orate bodieB-overnment intit"tion for making re$etitive lo%
val"e $ayment like dividend# interet# ref"nd# alary# $enion or commiion# it %a alo
recommended by the committee +lectronic Clearing Service2*ebit clearing may be
introd"ced for $re2a"thori>ed debit for $ayment of "tility bill# in"rance $remi"m and
intalment to leaing and financing com$anie. RBI ha been neceary te$ to introd"ce thee
cheme# initially in Chennai# M"mbai# Calc"tta and 1e% *elhi.
.8.0 Bank net) Bank net i a firt national level net%ork in India# %hich %a commiioned in
,ebr"ary 1441. It i comm"nication net%ork etablihed by RBI on the bai of
recommendation of the committee a$$ointed by it "nder the chairmanhi$ of the e&ec"tive
director T.1.A. Eyre. Bank net ha t%o $hae) Bank net2I and Bank net2 II.
7
Area of '$eration and A$$lication of Bank net)
G The meage of banking tranaction can be tranferred in the form of code from the
city to the other.
G H"ick ettlement of tranaction and advice.
G Im$rovement in c"tomer ervice2%ithdra%al of f"nd i $oible from any member
branch.
G +ay tranfer of data and other tatement to RBI.
G :ef"l in foreign e&change dealing.
G Acce to S=I,T thro"gh Bank net i eaily $oible.
.5.0 Chi$ Card) The c"tomer of the bank i $rovided %ith a $ecial ty$e of credit card %hich
bear c"tomer@ name# code etc. The credit amo"nt of the c"tomer acco"nt i %ritten on the card
%ith magnetic method. The com$"ter can read thee magnetic $ot. =hen the c"tomer "e
thi card# the credit amo"nt %ritten on the card tart decreaing. After "e of n"mber of time# at
one tage# the balance become nil on the card. At that /"nct"re# the card i of no "e. The
c"tomer ha to de$oit cah in hi acco"nt for re2"e of the card. Again the credit amo"nt i
%ritten on the card by magnetic mean.
.6.0 Phone Banking) C"tomer can no% dial "$ the bank@ deigned tele$hone n"mber and he by
dialling hi I* n"mber %ill be able to get connectivity to bank@ deignated com$"ter. The
oft%are $rovided in the machine interactive %ith the com$"ter aking him to dial the code
n"mber of ervice re!"ired by him and "itably an%er him. By "ing A"tomatic voice recorder
.AIR0 for im$le !"erie and tranaction and manned $hone terminal for com$licated
!"erie and tranaction# the c"tomer can act"ally do entire non2cah relating banking on
tele$hone) Any%here# Anytime.
.4.0 Tele2banking) Tele banking i another innovation# %hich $rovided the facility of 27 ho"r
banking to the c"tomer. Tele2banking i baed on the voice $roceing facility available on bank
com$"ter. The caller ""ally a c"tomer call the bank anytime and can en!"ire balance in
hi acco"nt or other tranaction hitory. In thi ytem# the com$"ter at bank are connected to a
tele$hone link %ith the hel$ of a modem. Ioice $roceing facility $rovided in the oft%are. Thi
oft%are identifie the voice of caller and $rovide him "itable re$ly. Some bank alo "e
tele$honic an%ering machine b"t thi i limited to ome brief f"nction. Thi i only
tele$hone an%ering ytem and no% Tele2banking. Tele banking i becoming $o$"lar ince
!"erie at ATM@ are no% becoming too long.
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.19.0 Internet Banking) Internet banking enable a c"tomer to do banking tranaction
thro"gh the bank@ %ebite on the Internet. It i a ytem of acceing acco"nt and general
information on bank $rod"ct and ervice thro"gh a com$"ter %hile itting in it office or
home. Thi i alo called virt"al banking. It i more or le bringing the bank to yo"r
com$"ter. In traditional banking one ha to a$$roach the branch in $eron# to %ithdra% cah or
de$oit a che!"e or re!"et a tatement of acco"nt etc. b"t internet banking ha changed the %ay
of banking. 1o% one can o$erate all thee ty$e of tranaction on hi com$"ter thro"gh
%ebite of bank. All "ch tranaction are encry$ted? "ing o$hiticated m"ltilayered
ec"rity architect"re# incl"ding fire%all and filter. 'ne can be ret a"red that one@
tranaction are ec"re and confidential.
.11.0 Mobile Banking) Mobile banking facility i an e&tenion of internet banking. The bank i in
aociation %ith the cell"lar ervice $rovider offer thi ervice. ,or thi ervice# mobile $hone
ho"ld either be SMS or =AP enabled. Thee facilitie are available even to thoe c"tomer
%ith only credit card acco"nt %ith the bank.
.12.0 Any %here Banking) =ith e&$anion of technology# it i no% $oible to obtain
financial detail from the bank from remote location. Baic tranaction can be effected from
fara%ay $lace. A"tomated Teller Machine are $laying an im$ortant role in $roviding
remote ervice to the c"tomer. =ithdra%al from other tation have been $oible d"e to
inter2tation connectivity of ATM@. The Rangara/an committee had alo "ggeted the
intallation of ATM at non2branch location# air$ort# hotel# Rail%ay tation# 'ffice
Com$"ter# Remote Banking i being f"rther e&tended to the c"tomer@ office and home.
.1;.0 Ioice Mail) Talking of an%ering ytem# there are everal bank mainly foreign bank
no% offering very advanced to"ch tone tele$hone an%ering ervice %hich ro"te the c"tomer
call directly to the de$artment concerned and allo% the c"tomer to leave a meage for the
concerned dek or de$artment# if the $eron i not available.
Challenge Ahead
Im$ortant B"ine Challenge)
G Meet c"tomer e&$ectation on ervice and facility offered by the
bank.
G C"tomer retention.
G Managing the $read and "tain the o$erating $rofit.
G Retaining the c"rrent market hare in the ind"try and the im$roving the ame.
G Com$letion from other $layer in the banking ind"try.
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'ther Im$ortant '$erational Challenge)
G ,re!"ent challenge in technologie "ed foc"ing "$ grade in hard%are and
oft%are# attending to that im$lementation i"e and timely roll o"t.
G Managing technology# ec"rity and b"ine rik.
G Sytem re2engineering to enable. *efined and im$lemented efficient $rocee to be
able to rea$ benefit off technology to it f"llet $otential.
G :$grading the kill of %ork force $read acro the co"ntry.
=ith the o$ening of economy# dereg"lation# merger and ac!"iition of bank#
im$lementation of BASE+ II norm# diinvetment of government holding in bank# the
com$etition i going to be increaed from ne% bank and merged entitie. Thi %ill alo o$en
"$ ne% o$$ort"nitie for introd"ction of a ne% $rod"ct and ervice. A definite trend i
emerging a to conolidation of the banking ytem# haring of ATM net%ork and ervice#
tie "$ %ith in"rance com$anie# other billing organi>ation like mobile o$erator# electricity
and tele$hone bill and bank for cro elling of vario" $rod"ct and ervice.
Ao% to meet the challengeJ
At cor$orate level to meet the challenge# vario" initiated have been taken and
im$lementation i in $roce beide "$ gradation of data centre facilitie)
.1.0 Centrali>ation of f"nction
G In%ard clearing data "$loading and
$roceing
G Check book i"e
G MIS2'n2Eine MonitoringB-eneration of tatement by controlling
office
G A"dit from the remote location
G Sending mail and tatement of acco"nt to c"tomer F com$letion of
non2mandatory field in ne%ly o$ened acco"nt.
.2.0 Single =indo% Sytem
.;.0 Revied Acco"nt o$ening from for ca$t"ring com$lete c"tomerBAcco"nt data a $er CBS
re!"irement.
.7.0 Call centre for c"tomer.
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.C.0 C"tomer Relationhi$ Management .CRM0 A$$lication.
.8.0 *ata =areho"ing.
Immediate ,oc"
To facilitate "ccef"l im$lementation of the above initiative# intenive effort are to be
"ndertaken by all of " on follo%ing i"e)
G Com$letion of correct MIS detail in all acco"nt and SRM@.
G C"tomerB Acco"nt data com$letionBcorrection.
G C"tomer2I* crytalli>ation.
G Aggreive marketing of Internet Banking F *ebit Card $rod"ct to increae hare of
delivery channel tranaction.
G Skill "$ gradation F increae in a%arene of all taff member.
G Strict com$liance of Circ"lar F -"idance available online .CBSI1,'0B Meage
i"ed thro"gh crolling ticker on login $age.
Preent lo%do%n in rollover m"t be $"t to f"ll "e to have concrete action on thee front.
Concl"ion
Indian $"blic ector bank that hold aro"nd 5C K of market hare do have taken initiative in the
field of IT. They are moving to%ard the centrali>ed databae and decentrali>e deciion making
$roce. They $oe enviable !"ality man$o%er. A%arene and a$$reciation of IT are very
m"ch there. =hat i needed i a Dbig $"h@ the %ay it %a given in the $ot nationali>ation
$eriod for e&$anionary activitie.
IT and India have become ynonymo". =hether India become a detination for o"to"rcing
or it become a develo$ment centre i matter of debate. A far a banking ind"try in India i
concerned it can be aid that altho"gh the Indian bank may not be a technologically
advanced a their co"nter$art in the develo$ed %orld# they are follo%ing the ma/ority of
international trend on the IT front. The trength of Indian banking lie in %ithering torm
and riing "$ to the e&$ectation from all the !"arter2catching "$ %ith all the global trend i
a matter of time.
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Reference)2
G Bakhi# S.# DCor$orate -overnance in Tranformation Time@# IBA B"lletin# 299;.
G Bimil Lalan# MStrengthening Indian Banking and ,inance2 Progre and Pro$ect@@#
The Bank +conomit Conference# India# 2992.
G Reddy# N.I. .14460 O,inancial Sector Reform) Revie% and Pro$ectO. RBI B"lletin#
*ecember.
G Reerve Bank of India# Ann"al Re$ort# vario" year.
G Reerve Bank of India .14410 Re$ort of the Committee on the
,inancial
Sytem .Chairman Shri M.1araimham0.
G Reddy# N.I. .29990# Monetary and ,inancial Sector Reform in India# A
Central Banker@ Per$ective# :BS P"bliher# 1e% *elhi.
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