UNIVERSITY OF MUMBAI

PROJECT ON
RECENT TECHNOLOGY DEVELOPMENT IN INDIAN BANK
BACHELOR OF COMMERCE

Banking & insurance

Semester v

(2016-2017)

SUBMITTED
In partial Fulfillment of the requirement for the

Award of Degree of Bachelor of Commerce – Banking & Insurance.

SUBMITTED BY,
VISHAL VIKAS THASAL

ROLL NO. - 62

UNDER GUIDANCE,
PROF. KUNAL SONI SIR

MAHARSHI DAYANAND COLLEGE OF ARTS, SCIENCE &
COMMERCE PAREL, MUMBAI – 400 012.

KUNAL SONI. MUMBAI – 400 012. Course Coordinator Principal Project Guide/Internal Examiner External Examiner .Com (Banking & Insurance) Semester V (2016-2017) has successfully completed the project on RECENT TECHNOLOGY DEVELOPMENT IN INDIAN BANK under the guidance of PROF. SCIENCE & COMMERCE PAREL. CERTIFICATE This is to certify that MR. VISHAL VIKAS THASAL of B. MAHARSHI DAYANAND COLLEGE OF ARTS.

VISHAL VIKAS THASAL. DECLARATION I am MR. com (Banking & Insurance) Semester V (2016-2017) hereby declares that I have completed the Project on RECENT TECHNOLOGY DEVELOPMENT IN INDIAN BANK. 62 . Signature of student Name of Student MR. The information submitted is true and original to the best of my knowledge. The student of B. VISHAL VIKAS THASAL Roll No.

GHULE and our Vice-Principal Mrs. We are thankful to Mr. SANTOSH SHINDE associated with administration part of Financial Markets & Banking & Insurance section has been very helpful in making the infrastructure available for data entry. PROF. SANJEEVANI PHATAK has always been inspiring & driving force. We feel privileged to take this opportunity to put on record my gratitude towards them. The principal of our college DR. in the college were all the favorable contributory factors right from the point when the topic was to be selected till the final copy was prepared. T. It was a very enriching experience throughout the contribution from the following individuals in the form in which it appears today. KUNAL SONI SIR made sure that the resource was made available in time & also for immediate advice & guidance throughout making this project. .P. the classmates & the atmosphere. the faculty. ACKNOWLEDGEMENT The college.

application architecture. employees of banks signed agreement with management regarding computerization of banking industry in India. multimedia. The core research areas of the institute include financial network. Based on the recommendations of the committee the Institute for Development and Research in Banking Technology (IDRBT) was established in 1996. payment system. problems inherent in manual system and increasing incidence of frauds made it imperative for banks to signalize favorable response for the need of hour. growing volume of banking operations. technical institutions and government. data mining. EXECUTIVE SUMMARY Indian banking sector opened its door for computerized applications and development of communication network basically due to the sheer compulsion and necessity to cope up demand from its customers from different countries. web based technology. Rangarajan have given landmark reports strongly recommending the IT applications in banking business. Realizing the importance of payment system RBI constituted an operational group and payment system advisory committee in 2000. In 1994 Reserve Bank of India (RBI) constituted a committee for technical up gradation of the banks. In 1999 the collaborative efforts of IDRBT and RBI developed a satellite based wide area network known as Indian Financial Network (INFINET). data warehousing and risk management. The network is restrictive to be used by the banks and financial institutions only. In 1993. The committee worked with the representation of different members from banks. . Presently. Committees headed by C. The prime task assigned to the committee was to develop an efficient and well-integrated system which could serve the purpose of Real Time Gross Settlement. the network consists of over 950 Very Small Aperture Terminal (VSATs) located in 127 cities of the country and utilizes one full transponder on INSAT 3B. around 4776 Advanced Level Posting Machines (ALPMs) and 233 minicomputers have been installed. Increasing number of bank branches. During the first phase of introduction of computer applications in banking.

REFERENCES & 8 46 WEBSITES . FINDINGS AND 5 10 INTERPRETATIONS 6 RECOMMENDATIONS & SUGGESTIONS 43 7 CONCLUSION 45 BIBLIOGRAPHY. CONTENTS CHAPTER PAGE TOPIC NO NUMBER 1 INTRODUCTION 1 2 LITERATURE REVIEW 2 3 OBJECTIVES & NEED FOR THE STUDY 4 4 RESEARCH METHODOLOGY 5 ANALYSIS OF DATA.